USD/TRY may fall 967 - 1292 pips

Our pivot point stands at 32.5986.

Our preference

The downside prevails as long as 32.5986 is resistance.

Alternative scenario

The upside breakout of 32.5986, would call for 32.6534 and 32.6860.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.5729 and 32.5535).

Supports and resistances

32.6860 **

32.6534 *

32.5986 **

32.5771

32.5310 last

32.4343

32.4018 **

32.3692 *

32.3367 **

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