EUR/RON may rise 32 - 44 pips

Our pivot point stands at 4.9706.

Our preference

Rise to 4.9766.

Alternative scenario

Below 4.9706, expect 4.9687 and 4.9675.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the pair is trading under its 20 period moving average (4.9722) but above its 50 period moving average (4.9721).

Supports and resistances

4.9790 **

4.9778 *

4.9766 **

4.9754

4.9722 last

4.9714

4.9706 **

4.9687 *

4.9675 **

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