EUR/RON may rise 26 - 37 pips

Our pivot point stands at 4.9742.

Our preference

As long as 4.9742 is support look for 4.9796.

Alternative scenario

The downside breakout of 4.9742 would call for 4.9725 and 4.9714.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.9759 and 4.9757).

Supports and resistances

4.9816 **

4.9806 *

4.9796 **

4.9785

4.9759 last

4.9749

4.9742 **

4.9725 *

4.9714 **

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