EUR/RON may rise 15 - 22 pips

Our pivot point is at 4.9689.

Our preference

The upside prevails as long as 4.9689 is support.

Alternative scenario

Below 4.9689, expect 4.9677 and 4.9669.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.9694 and 4.9696). Finally, the EUR/RON has crossed above its upper Bollinger band (4.9705).

Supports and resistances

4.9744 **

4.9737 *

4.9729 **

4.9722

4.9707 last

4.9694

4.9689 **

4.9677 *

4.9669 **

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