EUR/RON may fall 19 - 28 pips

Our pivot point stands at 4.9768.

Our preference

The downside prevails as long as 4.9768 is resistance.

Alternative scenario

Above 4.9768, look for 4.9784 and 4.9793.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.9754 and 4.9752). Finally, the EUR/RON has penetrated its lower Bollinger band (4.9748).

Supports and resistances

4.9793 **

4.9784 *

4.9768 **

4.9762

4.9747 last

4.9728

4.9719 **

4.9709 *

4.9700 **

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