USD/RON may rise 126 - 180 pips

Our pivot point is at 4.5749.

Our preference

As long as 4.5749 is support look for 4.6046.

Alternative scenario

The downside breakout of 4.5749 would call for 4.5658 and 4.5604.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.5835 and 4.5784).

Supports and resistances

4.6154 **

4.6100 *

4.6046 **

4.5992

4.5866 last

4.5785

4.5749 **

4.5658 *

4.5604 **

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