EUR/RON may fall 22 - 30 pips

Our pivot point is at 4.9770.

Our preference

As long as 4.9770 is resistance look for 4.9727.

Alternative scenario

The upside breakout of 4.9770, would call for 4.9783 and 4.9790.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.9759 and 4.9759).

Supports and resistances

4.9790 **

4.9783 *

4.9770 **

4.9765

4.9757 last

4.9735

4.9727 **

4.9720 *

4.9712 **

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