USD/TRY may fall to 31.5153 - 31.7148

Our pivot point is at 32.5001.

Our preference

The downside prevails as long as 32.5001 is resistance.

Alternative scenario

Above 32.5001, look for 32.8367 and 33.0370.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.3070 and 32.2713).

Supports and resistances

33.0370 **

32.8367 *

32.5001 **

32.3679

32.2140 last

31.7148

31.5153 **

31.3157 *

31.1161 **

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