EUR/RON may rise 23 - 35 pips

Our pivot point stands at 4.9709.

Our preference

The upside prevails as long as 4.9709 is support.

Alternative scenario

The downside breakout of 4.9709 would call for 4.9690 and 4.9678.

Comment

The RSI is above its neutrality area at 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 4.9724 and 4.9725). Finally, the EUR/RON is trading above its upper Bollinger band (standing at 4.9729).

Supports and resistances

4.9791 **

4.9779 *

4.9767 **

4.9755

4.9732 last

4.9717

4.9709 **

4.9690 *

4.9678 **

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