USD/RON may rise 160 - 223 pips

4.5857 is our pivot point.

Our preference

Rebound towards 4.6177.

Alternative scenario

The downside breakout of 4.5857 would call for 4.5751 and 4.5688.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.5955 and 4.5958).

Supports and resistances

4.6304 **

4.6240 *

4.6177 **

4.6114

4.5954 last

4.5899

4.5857 **

4.5751 *

4.5688 **

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