EUR/PLN may rise 123 - 183 pips

Our pivot point stands at 4.2782.

Our preference

The upside prevails as long as 4.2782 is support.

Alternative scenario

The downside breakout of 4.2782 would call for 4.2681 and 4.2620.

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 trading above both its 20 and 50 period moving average (respectively at 4.2897 and 4.2898). Finally, the EUR/PLN is trading above its upper Bollinger band (standing at 4.2918).

Supports and resistances

4.3222 **

4.3162 *

4.3102 **

4.3042

4.2919 last

4.2821

4.2782 **

4.2681 *

4.2620 **

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