EUR/RON may rise to 4.9857 - 4.9904

4.9679 is our pivot point.

Our preference

The upside prevails as long as 4.9679 is support.

Alternative scenario

The downside breakout of 4.9679 would call for 4.9600 and 4.9552.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.9754 and 4.9749).

Supports and resistances

4.9999 **

4.9952 *

4.9904 **

4.9857

4.9762 last

4.9711

4.9679 **

4.9600 *

4.9552 **

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