USD/TRY may fall 1743 - 2250 pips

Our pivot point is at 32.8065.

Our preference

Target 32.4902.

Alternative scenario

The upside breakout of 32.8065, would call for 32.8920 and 32.9429.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (32.7461) but above its 50 period moving average (32.6930).

Supports and resistances

32.9429 **

32.8920 *

32.8065 **

32.7729

32.7152 last

32.5409

32.4902 **

32.4394 *

32.3887 **

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