EUR/TRY – Currency exchange rate forecast 06.06.2019: the upside prevails as long as 6.4727 is support

EUR/TRY - Currency exchange rate forecast 06.06.2019: the upside prevails as long as 6.4727 is support

Alternative scenario: below 6.4727, expect 6.4559 and 6.4460.

Our pivot point is at 6.4727.

Our preference: the upside prevails as long as 6.4727 is support.

Alternative scenario: below 6.4727, expect 6.4559 and 6.4460.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 6.4570 and 6.4441).

Supports and resistances:

6.5436 **

6.5337 *

6.5237 **

6.5137

6.4870 last

6.4792

6.4727 **

6.4559 *

6.4460 **