USD/TRY may rise 1137 - 1702 pips

Our pivot point stands at 32.4701.

Our preference

Rebound towards 32.7265.

Alternative scenario

Below 32.4701, expect 32.3752 and 32.3187.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.5608 and 32.5655).

Supports and resistances

32.8395 **

32.7830 *

32.7265 **

32.6700

32.5563 last

32.5074

32.4701 **

32.3752 *

32.3187 **

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