USD/TRY may fall 1957 - 2457 pips

33.1153 is our pivot point.

Our preference

The downside prevails as long as 33.1153 is resistance.

Alternative scenario

The upside breakout of 33.1153, would call for 33.1996 and 33.2498.

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 33.0721 and 33.0525).

Supports and resistances

33.2498 **

33.1996 *

33.1153 **

33.0822

33.0407 last

32.8450

32.7950 **

32.7450 *

32.6949 **

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