USD/TRY may rise 651 - 973 pips

Our pivot point is at 32.1800.

Our preference

Rebound towards 32.3363.

Alternative scenario

Below 32.1800, expect 32.1258 and 32.0935.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.2631 and 32.3092).

Supports and resistances

32.4009 **

32.3686 *

32.3363 **

32.3041

32.2390 last

32.2013

32.1800 **

32.1258 *

32.0935 **

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