USD/RON may rise 154 - 227 pips

Our pivot point stands at 4.5664.

Our preference

The upside prevails as long as 4.5664 is support.

Alternative scenario

The downside breakout of 4.5664 would call for 4.5541 and 4.5468.

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 above its 20 and 50 period moving average (respectively at 4.5753 and 4.5766). Finally, the USD/RON has crossed above its upper Bollinger band (4.5782).

Supports and resistances

4.6156 **

4.6083 *

4.6010 **

4.5937

4.5783 last

4.5712

4.5664 **

4.5541 *

4.5468 **

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