USD/TRY may fall 1852 - 2095 pips

34.2562 is our pivot point.

Our preference

The downside prevails as long as 34.2562 is resistance.

Alternative scenario

Above 34.2562, look for 34.2972 and 34.3216.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 34.2378 and 34.2371). Finally, the USD/TRY is trading below its lower Bollinger band (standing at 34.2177).

Supports and resistances

34.3216 **

34.2972 *

34.2562 **

34.2401

34.2146 last

34.0294

34.0051 **

33.9808 *

33.9565 **

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