EUR/RON may fall to 4.9545 - 4.9598

Our pivot point is at 4.9798.

Our preference

As long as 4.9798 is resistance look for 4.9545.

Alternative scenario

Above 4.9798, look for 4.9888 and 4.9942.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.9724 and 4.9738).

Supports and resistances

4.9942 **

4.9888 *

4.9798 **

4.9762

4.9723 last

4.9598

4.9545 **

4.9491 *

4.9437 **

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