USD/TRY may rise 1154 - 1656 pips

Our pivot point is at 32.1915.

Our preference

Rebound towards 32.4446.

Alternative scenario

The downside breakout of 32.1915 would call for 32.1073 and 32.0571.

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 32.2885 and 32.2995).

Supports and resistances

32.5450 **

32.4948 *

32.4446 **

32.3944

32.2790 last

32.2246

32.1915 **

32.1073 *

32.0571 **

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