USD/TRY may fall 1166 - 1526 pips

Our pivot point stands at 32.2510.

Our preference

As long as 32.2510 is resistance look for 32.0414.

Alternative scenario

Above 32.2510, look for 32.3116 and 32.3476.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.2005 and 32.2055).

Supports and resistances

32.3476 **

32.3116 *

32.2510 **

32.2272

32.1940 last

32.0774

32.0414 **

32.0054 *

31.9694 **

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