USD/TRY may fall 1328 - 1892 pips

32.6597 is our pivot point.

Our preference

As long as 32.6597 is resistance look for 32.3242.

Alternative scenario

Above 32.6597, look for 32.7547 and 32.8112.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading above its 20 period moving average (32.5119) but under its 50 period moving average (32.5228).

Supports and resistances

32.8112 **

32.7547 *

32.6597 **

32.6223

32.5134 last

32.3806

32.3242 **

32.2678 *

32.2114 **

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