USD/TRY may fall 1017 - 1520 pips

Our pivot point stands at 32.4353.

Our preference

The downside prevails as long as 32.4353 is resistance.

Alternative scenario

The upside breakout of 32.4353, would call for 32.5198 and 32.5701.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.3657 and 32.3777).

Supports and resistances

32.5701 **

32.5198 *

32.4353 **

32.4021

32.3616 last

32.2599

32.2096 **

32.1593 *

32.1090 **

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