USD/TRY may fall 1568 - 2134 pips

Our pivot point stands at 32.7183.

Our preference

The downside prevails as long as 32.7183 is resistance.

Alternative scenario

The upside breakout of 32.7183, would call for 32.8135 and 32.8702.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.7493 and 32.7952).

Supports and resistances

32.8702 **

32.8135 *

32.7183 **

32.6809

32.6399 last

32.4831

32.4265 **

32.3699 *

32.3133 **

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