USD/RON may fall 152 - 225 pips

Our pivot point stands at 4.5886.

Our preference

The downside prevails as long as 4.5886 is resistance.

Alternative scenario

Above 4.5886, look for 4.6008 and 4.6081.

Comment

The RSI is below 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 4.5825 and 4.5817). Finally, the USD/RON is trading below its lower Bollinger band (standing at 4.5780).

Supports and resistances

4.6081 **

4.6008 *

4.5886 **

4.5837

4.5775 last

4.5623

4.5550 **

4.5477 *

4.5404 **

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