USD/RON may rise 185 - 266 pips

Our pivot point is at 4.4774.

Our preference

Rebound towards 4.5168.

Alternative scenario

The downside breakout of 4.4774 would call for 4.4639 and 4.4558.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (4.4902) but below its 50 period moving average (4.4938).

Supports and resistances

4.5329 **

4.5249 *

4.5168 **

4.5087

4.4902 last

4.4828

4.4774 **

4.4639 *

4.4558 **

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