Appreciation To Slow

November 2006 | Currency Forecast

We have been bullish on RON/EUR for two years now, and on top of the appreciation, the trade has delivered a very appealing level of carry to boot. We expect both these trends to continue, and with the unit having broken through resistance in the RON3.5000/EUR area, the next leg on the rally is now on the cards. Resistance has now become support, and the key level on the upside is the 2005 high of

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