EUR/RON may rise 12 - 19 pips

Our pivot point is at 4.9751.

Our preference

The upside prevails as long as 4.9751 is support.

Alternative scenario

The downside breakout of 4.9751 would call for 4.9740 and 4.9734.

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 4.9759 and 4.9759). Finally, the EUR/RON is trading above its upper Bollinger band (standing at 4.9764).

Supports and resistances

4.9798 **

4.9792 *

4.9786 **

4.9779

4.9767 last

4.9755

4.9751 **

4.9740 *

4.9734 **

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