USD/RON may rise 134 - 201 pips

4.6030 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 4.6030 would call for 4.5918 and 4.5852.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (4.6118) but below its 50 period moving average (4.6170).

Supports and resistances

4.6464 **

4.6398 *

4.6332 **

4.6265

4.6131 last

4.6073

4.6030 **

4.5918 *

4.5852 **

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