USD/TRY may rise 900 - 1224 pips

Our pivot point stands at 32.2935.

Our preference

Rebound towards 32.4640.

Alternative scenario

The downside breakout of 32.2935 would call for 32.2391 and 32.2067.

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 32.3485 and 32.3863).

Supports and resistances

32.5288 **

32.4964 *

32.4640 **

32.4316

32.3416 last

32.3148

32.2935 **

32.2391 *

32.2067 **

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