USD/RON may rise to 4.7093 - 4.7520

Our pivot point stands at 4.5604.

Our preference

Our next up target stands at 4.7520.

Alternative scenario

The downside breakout of 4.5604 would call for 4.4888 and 4.4463.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.5830 and 4.6110). Finally, the USD/RON has crossed above its upper Bollinger band (4.6171).

Supports and resistances

4.8373 **

4.7946 *

4.7520 **

4.7093

4.6217 last

4.5885

4.5604 **

4.4888 *

4.4463 **

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