USD/TRY may rise 2145 - 2469 pips

32.1101 is our pivot point.

Our preference

Rebound towards 32.4141.

Alternative scenario

The downside breakout of 32.1101 would call for 32.0560 and 32.0238.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.2601 and 32.3437). Finally, the USD/TRY has penetrated its lower Bollinger band (32.1756).

Supports and resistances

32.4788 **

32.4464 *

32.4141 **

32.3817

32.1672 last

32.1314

32.1101 **

32.0560 *

32.0238 **

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