USD/RON may fall 126 - 189 pips

4.5976 is our pivot point.

Our preference

The downside prevails as long as 4.5976 is resistance.

Alternative scenario

The upside breakout of 4.5976, would call for 4.6082 and 4.6145.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.5877 and 4.5906). Finally, the USD/RON has penetrated its lower Bollinger band (4.5854).

Supports and resistances

4.6145 **

4.6082 *

4.5976 **

4.5934

4.5840 last

4.5714

4.5651 **

4.5587 *

4.5524 **

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