USD/RON may fall 167 - 230 pips

Our pivot point is at 4.5779.

Our preference

The downside prevails as long as 4.5779 is resistance.

Alternative scenario

Above 4.5779, look for 4.5885 and 4.5948.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.5739 and 4.5755). Finally, the USD/RON is trading below its lower Bollinger band (standing at 4.5692).

Supports and resistances

4.5948 **

4.5885 *

4.5779 **

4.5738

4.5672 last

4.5505

4.5442 **

4.5379 *

4.5316 **

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