EUR/TRY may fall 1924 - 2413 pips

Our pivot point stands at 35.2537.

Our preference

Under pressure below 35.2537.

Alternative scenario

Above 35.2537, look for 35.3362 and 35.3853.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 35.1941 and 35.1944).

Supports and resistances

35.3853 **

35.3362 *

35.2537 **

35.2213

35.1623 last

34.9699

34.9210 **

34.8720 *

34.8231 **

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