USD/TRY may rise 1468 - 2118 pips

32.4356 is our pivot point.

Our preference

Rebound towards 32.7455.

Alternative scenario

The downside breakout of 32.4356 would call for 32.3264 and 32.2614.

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 32.5338 and 32.5477).

Supports and resistances

32.8756 **

32.8106 *

32.7455 **

32.6805

32.5337 last

32.4785

32.4356 **

32.3264 *

32.2614 **

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