USD/PLN may rise 119 - 169 pips

Our pivot point stands at 3.9126.

Our preference

The upside prevails as long as 3.9126 is support.

Alternative scenario

The downside breakout of 3.9126 would call for 3.9043 and 3.8993.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.9152 and 3.9155). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.9205).

Supports and resistances

3.9488 **

3.9438 *

3.9388 **

3.9338

3.9219 last

3.9159

3.9126 **

3.9043 *

3.8993 **

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