USD/TRY may fall 1466 - 2154 pips

Our pivot point stands at 33.1189.

Our preference

Under pressure below 33.1189.

Alternative scenario

The upside breakout of 33.1189, would call for 33.2345 and 33.3033.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 33.0307 and 33.0439).

Supports and resistances

33.3033 **

33.2345 *

33.1189 **

33.0735

33.0188 last

32.8722

32.8034 **

32.7346 *

32.6659 **

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