USD/RON may rise 120 - 179 pips

Our pivot point stands at 4.5659.

Our preference

Rebound towards 4.5922.

Alternative scenario

The downside breakout of 4.5659 would call for 4.5560 and 4.5502.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (4.5742) but below its 50 period moving average (4.5794).

Supports and resistances

4.6039 **

4.5980 *

4.5922 **

4.5863

4.5743 last

4.5698

4.5659 **

4.5560 *

4.5502 **

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