USD/PLN may rise 107 - 157 pips

3.9402 is our pivot point.

Our preference

The upside prevails as long as 3.9402 is support.

Alternative scenario

The downside breakout of 3.9402 would call for 3.9318 and 3.9268.

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 3.9439 and 3.9410). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.9513).

Supports and resistances

3.9803 **

3.9753 *

3.9703 **

3.9653

3.9546 last

3.9435

3.9402 **

3.9318 *

3.9268 **

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