USD/RON may rise 121 - 180 pips

Our pivot point stands at 4.5741.

Our preference

As long as 4.5741 is support look for 4.6009.

Alternative scenario

Below 4.5741, expect 4.5642 and 4.5583.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.5797 and 4.5736). Finally, the USD/RON has crossed above its upper Bollinger band (4.5825).

Supports and resistances

4.6127 **

4.6068 *

4.6009 **

4.5950

4.5829 last

4.5780

4.5741 **

4.5642 *

4.5583 **

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