USD/TRY may rise 1971 - 2614 pips

32.5825 is our pivot point.

Our preference

Rebound towards 32.9297.

Alternative scenario

The downside breakout of 32.5825 would call for 32.4747 and 32.4105.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.7006 and 32.7839).

Supports and resistances

33.0584 **

32.9941 *

32.9297 **

32.8654

32.6683 last

32.6248

32.5825 **

32.4747 *

32.4105 **

Number of asterisks represents the strength of support and resistance levels.