EUR/RON may rise 13 - 19 pips

Our pivot point stands at 4.9730.

Our preference

The upside prevails as long as 4.9730 is support.

Alternative scenario

Below 4.9730, expect 4.9719 and 4.9713.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.9742 and 4.9744). Finally, the EUR/RON is trading above its upper Bollinger band (standing at 4.9749).

Supports and resistances

4.9783 **

4.9776 *

4.9770 **

4.9764

4.9751 last

4.9734

4.9730 **

4.9719 *

4.9713 **

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