EUR/RON may fall 32 - 43 pips

Our pivot point stands at 4.9744.

Our preference

As long as 4.9744 is resistance look for 4.9683.

Alternative scenario

Above 4.9744, look for 4.9763 and 4.9775.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above its 20 period moving average (4.9725) but under its 50 period moving average (4.9726).

Supports and resistances

4.9775 **

4.9763 *

4.9744 **

4.9736

4.9726 last

4.9694

4.9683 **

4.9671 *

4.9659 **

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