EUR/RON may fall 30 - 39 pips

4.9758 is our pivot point.

Our preference

As long as 4.9758 is resistance look for 4.9707.

Alternative scenario

The upside breakout of 4.9758, would call for 4.9774 and 4.9784.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above its 20 period moving average (4.9746) but under its 50 period moving average (4.9747).

Supports and resistances

4.9784 **

4.9774 *

4.9758 **

4.9752

4.9746 last

4.9716

4.9707 **

4.9697 *

4.9688 **

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