USD/TRY may rise 1390 - 2041 pips

Our pivot point stands at 32.4306.

Our preference

Rebound towards 32.7361.

Alternative scenario

The downside breakout of 32.4306 would call for 32.3215 and 32.2565.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (32.5205) but under its 50 period moving average (32.5846).

Supports and resistances

32.8661 **

32.8011 *

32.7361 **

32.6710

32.5320 last

32.4735

32.4306 **

32.3215 *

32.2565 **

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