USD/RON may rise 179 - 246 pips

Our pivot point is at 4.6443.

Our preference

The upside prevails as long as 4.6443 is support.

Alternative scenario

The downside breakout of 4.6443 would call for 4.6331 and 4.6264.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.6452 and 4.6435). Finally, the USD/RON has crossed above its upper Bollinger band (4.6548).

Supports and resistances

4.6941 **

4.6874 *

4.6807 **

4.6740

4.6561 last

4.6487

4.6443 **

4.6331 *

4.6264 **

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