USD/TRY may fall 755 - 1116 pips

Our pivot point stands at 32.2708.

Our preference

Under pressure below 32.2708.

Alternative scenario

The upside breakout of 32.2708, would call for 32.3314 and 32.3675.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.2376 and 32.2288).

Supports and resistances

32.3675 **

32.3314 *

32.2708 **

32.2470

32.2187 last

32.1432

32.1071 **

32.0710 *

32.0349 **

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