EUR/RON may rise to 4.9863 - 4.9907

Our pivot point stands at 4.9695.

Our preference

The upside prevails as long as 4.9695 is support.

Alternative scenario

The downside breakout of 4.9695 would call for 4.9622 and 4.9579.

Comment

The RSI is above 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 4.9741 and 4.9736).

Supports and resistances

4.9994 **

4.9950 *

4.9907 **

4.9863

4.9762 last

4.9724

4.9695 **

4.9622 *

4.9579 **

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