EUR/RON may rise to 4.9890 - 4.9956

Our pivot point is at 4.9650.

Our preference

The upside prevails as long as 4.9650 is support.

Alternative scenario

The downside breakout of 4.9650 would call for 4.9540 and 4.9474.

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 4.9745 and 4.9736).

Supports and resistances

5.0087 **

5.0022 *

4.9956 **

4.9890

4.9756 last

4.9694

4.9650 **

4.9540 *

4.9474 **

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