USD/RON may rise 138 - 204 pips

Our pivot point stands at 4.5735.

Our preference

The upside prevails as long as 4.5735 is support.

Alternative scenario

The downside breakout of 4.5735 would call for 4.5625 and 4.5559.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.5800 and 4.5793). Finally, the USD/RON is trading above its upper Bollinger band (standing at 4.5832).

Supports and resistances

4.6179 **

4.6113 *

4.6048 **

4.5982

4.5844 last

4.5778

4.5735 **

4.5625 *

4.5559 **

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