USD/TRY may rise 1568 - 2134 pips

Our pivot point is at 32.4625.

Our preference

Rebound towards 32.7812.

Alternative scenario

The downside breakout of 32.4625 would call for 32.3676 and 32.3111.

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 (32.5510) but below its 50 period moving average (32.6022).

Supports and resistances

32.8944 **

32.8378 *

32.7812 **

32.7246

32.5678 last

32.4997

32.4625 **

32.3676 *

32.3111 **

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