USD/RON may fall 182 - 264 pips

Our pivot point is at 4.4648.

Our preference

The downside prevails as long as 4.4648 is resistance.

Alternative scenario

Above 4.4648, look for 4.4785 and 4.4866.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.4538 and 4.4540).

Supports and resistances

4.4866 **

4.4785 *

4.4648 **

4.4594

4.4530 last

4.4348

4.4266 **

4.4185 *

4.4103 **

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