USD/RON may rise 132 - 191 pips

Our pivot point stands at 4.5761.

Our preference

Look for a drop towards 4.5761 before a bounce.

Alternative scenario

The downside breakout of 4.5761 would call for 4.5662 and 4.5603.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.5876 and 4.5874).

Supports and resistances

4.6195 **

4.6136 *

4.6077 **

4.6018

4.5886 last

4.5800

4.5761 **

4.5662 *

4.5603 **

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