USD/RON may fall 129 - 192 pips

Our pivot point stands at 4.5698.

Our preference

As long as 4.5698 is resistance look for 4.5356.

Alternative scenario

The upside breakout of 4.5698, would call for 4.5804 and 4.5867.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.5582 and 4.5598).

Supports and resistances

4.5867 **

4.5804 *

4.5698 **

4.5657

4.5548 last

4.5419

4.5356 **

4.5293 *

4.5230 **

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