USD/RON may rise 126 - 182 pips

4.6163 is our pivot point.

Our preference

As long as 4.6163 is support look for 4.6421.

Alternative scenario

The downside breakout of 4.6163 would call for 4.6069 and 4.6014.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.6216 and 4.6035).

Supports and resistances

4.6532 **

4.6476 *

4.6421 **

4.6365

4.6239 last

4.6199

4.6163 **

4.6069 *

4.6014 **

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