USD/RON may rise 166 - 229 pips

Our pivot point stands at 4.5832.

Our preference

The upside prevails as long as 4.5832 is support.

Alternative scenario

The downside breakout of 4.5832 would call for 4.5725 and 4.5662.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.5923 and 4.5912).

Supports and resistances

4.6283 **

4.6220 *

4.6157 **

4.6094

4.5928 last

4.5873

4.5832 **

4.5725 *

4.5662 **

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