USD/RON may rise 129 - 188 pips

Our pivot point is at 4.5737.

Our preference

As long as 4.5737 is support look for 4.6036.

Alternative scenario

The downside breakout of 4.5737 would call for 4.5638 and 4.5579.

Comment

The RSI is above 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 4.5811 and 4.5765).

Supports and resistances

4.6154 **

4.6095 *

4.6036 **

4.5977

4.5848 last

4.5776

4.5737 **

4.5638 *

4.5579 **

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