USD/TRY may fall 1422 - 2062 pips

Our pivot point stands at 33.1125.

Our preference

Technical rebound towards 33.1125 before a new drop.

Alternative scenario

The upside breakout of 33.1125, would call for 33.2202 and 33.2843.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (32.9854) but below its 50 period moving average (33.0080).

Supports and resistances

33.2843 **

33.2202 *

33.1125 **

33.0702

33.0048 last

32.8626

32.7986 **

32.7346 *

32.6706 **

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