USD/TRY may fall 1617 - 2304 pips

Our pivot point is at 33.0796.

Our preference

The downside prevails as long as 33.0796 is resistance.

Alternative scenario

Above 33.0796, look for 33.1951 and 33.2638.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 33.0366 and 33.0261).

Supports and resistances

33.2638 **

33.1951 *

33.0796 **

33.0343

32.9864 last

32.8247

32.7560 **

32.6873 *

32.6187 **

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