USD/RON may fall 119 - 177 pips

Our pivot point is at 4.6132.

Our preference

The downside prevails as long as 4.6132 is resistance.

Alternative scenario

The upside breakout of 4.6132, would call for 4.6230 and 4.6288.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.6079 and 4.6105). Finally, the USD/RON has penetrated its lower Bollinger band (4.6022).

Supports and resistances

4.6288 **

4.6230 *

4.6132 **

4.6093

4.6018 last

4.5899

4.5841 **

4.5782 *

4.5724 **

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