USD/TRY may rise 1188 - 1691 pips

Our pivot point stands at 32.2232.

Our preference

Rebound towards 32.5059.

Alternative scenario

Below 32.2232, expect 32.1389 and 32.0887.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (32.3365) but below its 50 period moving average (32.3514).

Supports and resistances

32.6065 **

32.5562 *

32.5059 **

32.4556

32.3368 last

32.2564

32.2232 **

32.1389 *

32.0887 **

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