USD/TRY may fall to 31.2704 - 31.5188

32.5307 is our pivot point.

Our preference

The downside prevails as long as 32.5307 is resistance.

Alternative scenario

The upside breakout of 32.5307, would call for 32.9504 and 33.2002.

Comment

The RSI is below 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 32.2874 and 32.2381).

Supports and resistances

33.2002 **

32.9504 *

32.5307 **

32.3659

32.1850 last

31.5188

31.2704 **

31.0221 *

30.7737 **

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