USD/TRY may fall 648 - 971 pips

Our pivot point stands at 32.3759.

Our preference

Under pressure below 32.3759.

Alternative scenario

The upside breakout of 32.3759, would call for 32.4303 and 32.4627.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. 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 32.4085 and 32.3393).

Supports and resistances

32.4627 **

32.4303 *

32.3759 **

32.3545

32.3332 last

32.2684

32.2361 **

32.2037 *

32.1713 **

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