EUR/RUB may rise to 106.950 - 110.190

94.510 is our pivot point.

Our preference

The upside prevails as long as 94.510 is support.

Alternative scenario

The downside breakout of 94.510 would call for 89.150 and 85.960.

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 95.369 and 94.918).

Supports and resistances

116.680 **

113.440 *

110.190 **

106.950

100.028 last

96.610

94.510 **

89.150 *

85.960 **

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