USD/RON may fall 156 - 222 pips

4.6423 is our pivot point.

Our preference

As long as 4.6423 is resistance look for 4.6101.

Alternative scenario

Above 4.6423, look for 4.6535 and 4.6602.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (4.6318) but below its 50 period moving average (4.6332).

Supports and resistances

4.6602 **

4.6535 *

4.6423 **

4.6380

4.6323 last

4.6167

4.6101 **

4.6034 *

4.5968 **

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