EUR/RON may rise 27 - 38 pips

Our pivot point stands at 4.9701.

Our preference

Our next up target stands at 4.9759.

Alternative scenario

Below 4.9701, expect 4.9682 and 4.9670.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.9716 and 4.9718).

Supports and resistances

4.9783 **

4.9771 *

4.9759 **

4.9748

4.9721 last

4.9709

4.9701 **

4.9682 *

4.9670 **

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