EUR/RON may rise 19 - 28 pips

4.9725 is our pivot point.

Our preference

Look for a drop towards 4.9725 before a bounce.

Alternative scenario

The downside breakout of 4.9725 would call for 4.9709 and 4.9699.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (4.9741) but above its 50 period moving average (4.9734).

Supports and resistances

4.9788 **

4.9779 *

4.9769 **

4.9760

4.9741 last

4.9731

4.9725 **

4.9709 *

4.9699 **

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