USD/TRY may fall 753 - 1040 pips

Our pivot point is at 34.1188.

Our preference

The downside prevails as long as 34.1188 is resistance.

Alternative scenario

Above 34.1188, look for 34.1670 and 34.1957.

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 stands below its 20 and 50 period moving average (respectively at 34.0535 and 34.0719).

Supports and resistances

34.1957 **

34.1670 *

34.1188 **

34.0999

34.0416 last

33.9663

33.9376 **

33.9090 *

33.8804 **

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