USD/TRY may fall to 31.4075 - 31.6300

32.5314 is our pivot point.

Our preference

The downside prevails as long as 32.5314 is resistance.

Alternative scenario

Above 32.5314, look for 32.9071 and 33.1307.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading above its 20 period moving average (32.2130) but under its 50 period moving average (32.2773).

Supports and resistances

33.1307 **

32.9071 *

32.5314 **

32.3838

32.2198 last

31.6300

31.4075 **

31.1850 *

30.9624 **

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