EUR/RON may rise to 4.9849 - 4.9892

Our pivot point stands at 4.9690.

Our preference

The upside prevails as long as 4.9690 is support.

Alternative scenario

The downside breakout of 4.9690 would call for 4.9617 and 4.9574.

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 4.9727 and 4.9736).

Supports and resistances

4.9979 **

4.9935 *

4.9892 **

4.9849

4.9762 last

4.9718

4.9690 **

4.9617 *

4.9574 **

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