USD/TRY may fall 1339 - 1775 pips

Our pivot point stands at 33.5954.

Our preference

Under pressure below 33.5954.

Alternative scenario

The upside breakout of 33.5954, would call for 33.6688 and 33.7124.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 33.5495 and 33.5711).

Supports and resistances

33.7124 **

33.6688 *

33.5954 **

33.5666

33.5263 last

33.3924

33.3488 **

33.3052 *

33.2616 **

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