USD/TRY may fall 1507 - 1751 pips

Our pivot point is at 34.3114.

Our preference

Technical rebound towards 34.3114 before a new drop.

Alternative scenario

Above 34.3114, look for 34.3524 and 34.3769.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price stands above its 20 period moving average (34.2671) but below its 50 period moving average (34.2724).

Supports and resistances

34.3769 **

34.3524 *

34.3114 **

34.2952

34.2710 last

34.1203

34.0959 **

34.0715 *

34.0472 **

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