EUR/RON may rise 15 - 21 pips

Our pivot point is at 4.9714.

Our preference

The upside prevails as long as 4.9714 is support.

Alternative scenario

The downside breakout of 4.9714 would call for 4.9703 and 4.9696.

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 4.9717 and 4.9716). Finally, the EUR/RON has crossed above its upper Bollinger band (4.9727).

Supports and resistances

4.9763 **

4.9756 *

4.9749 **

4.9743

4.9728 last

4.9719

4.9714 **

4.9703 *

4.9696 **

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