EUR/PLN may fall 137 - 205 pips

Our pivot point is at 4.2650.

Our preference

The downside prevails as long as 4.2650 is resistance.

Alternative scenario

The upside breakout of 4.2650, would call for 4.2764 and 4.2832.

Comment

The RSI is below its neutrality area at 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 4.2623 and 4.2592). Finally, the EUR/PLN is trading below its lower Bollinger band (standing at 4.2545).

Supports and resistances

4.2832 **

4.2764 *

4.2650 **

4.2605

4.2527 last

4.2390

4.2322 **

4.2255 *

4.2187 **

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