EUR/RON may rise 28 - 38 pips

Our pivot point is at 4.9717.

Our preference

The upside prevails as long as 4.9717 is support.

Alternative scenario

Below 4.9717, expect 4.9702 and 4.9692.

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 above its 20 and 50 period moving average (respectively at 4.9730 and 4.9728).

Supports and resistances

4.9786 **

4.9777 *

4.9768 **

4.9758

4.9730 last

4.9724

4.9717 **

4.9702 *

4.9692 **

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