USD/TRY may fall 859 - 1206 pips

34.0172 is our pivot point.

Our preference

The downside prevails as long as 34.0172 is resistance.

Alternative scenario

Above 34.0172, look for 34.0755 and 34.1103.

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 33.9794 and 33.9840).

Supports and resistances

34.1103 **

34.0755 *

34.0172 **

33.9942

33.9672 last

33.8813

33.8466 **

33.8119 *

33.7772 **

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