USD/TRY may rise 1285 - 1788 pips

Our pivot point is at 32.1548.

Our preference

Rebound towards 32.4567.

Alternative scenario

The downside breakout of 32.1548 would call for 32.0706 and 32.0205.

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 is trading under both its 20 and 50 period moving average (respectively at 32.2822 and 32.3060).

Supports and resistances

32.5571 **

32.5069 *

32.4567 **

32.4064

32.2779 last

32.1878

32.1548 **

32.0706 *

32.0205 **

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