EUR/RON may rise to 4.9968 - 5.0066

Our pivot point stands at 4.9616.

Our preference

The upside prevails as long as 4.9616 is support.

Alternative scenario

The downside breakout of 4.9616 would call for 4.9452 and 4.9354.

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 4.9743 and 4.9744).

Supports and resistances

5.0262 **

5.0164 *

5.0066 **

4.9968

4.9762 last

4.9681

4.9616 **

4.9452 *

4.9354 **

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