USD/TRY may fall 1404 - 2092 pips

Our pivot point stands at 33.1130.

Our preference

The downside prevails as long as 33.1130 is resistance.

Alternative scenario

Above 33.1130, look for 33.2285 and 33.2973.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 33.0459 and 33.0374).

Supports and resistances

33.2973 **

33.2285 *

33.1130 **

33.0676

33.0184 last

32.8780

32.8092 **

32.7404 *

32.6716 **

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