USD/TRY may fall 1347 - 1979 pips

33.4336 is our pivot point.

Our preference

The downside prevails as long as 33.4336 is resistance.

Alternative scenario

The upside breakout of 33.4336, would call for 33.5400 and 33.6034.

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 33.3773 and 33.3562).

Supports and resistances

33.6034 **

33.5400 *

33.4336 **

33.3918

33.3062 last

33.1715

33.1083 **

33.0450 *

32.9818 **

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