USD/TRY may fall 2661 - 3288 pips

Our pivot point stands at 33.2138.

Our preference

The downside prevails as long as 33.2138 is resistance.

Alternative scenario

The upside breakout of 33.2138, would call for 33.3195 and 33.3824.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 33.1574 and 33.1419).

Supports and resistances

33.3824 **

33.3195 *

33.2138 **

33.1722

33.1268 last

32.8607

32.7980 **

32.7354 *

32.6727 **

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