USD/TRY may fall 1980 - 2223 pips

Our pivot point stands at 34.2543.

Our preference

The downside prevails as long as 34.2543 is resistance.

Alternative scenario

The upside breakout of 34.2543, would call for 34.2953 and 34.3197.

Comment

The RSI is below 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 34.2291 and 34.2294).

Supports and resistances

34.3197 **

34.2953 *

34.2543 **

34.2382

34.2094 last

34.0114

33.9871 **

33.9628 *

33.9385 **

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