USD/RON may rise 166 - 247 pips

4.4705 is our pivot point.

Our preference

Rebound towards 4.5095.

Alternative scenario

The downside breakout of 4.4705 would call for 4.4571 and 4.4491.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.4851 and 4.4948).

Supports and resistances

4.5255 **

4.5175 *

4.5095 **

4.5014

4.4848 last

4.4758

4.4705 **

4.4571 *

4.4491 **

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