EUR/PLN may fall 119 - 175 pips

Our pivot point is at 4.2886.

Our preference

As long as 4.2886 is resistance look for 4.2586.

Alternative scenario

The upside breakout of 4.2886, would call for 4.2982 and 4.3039.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.2768 and 4.2771).

Supports and resistances

4.3039 **

4.2982 *

4.2886 **

4.2849

4.2761 last

4.2642

4.2586 **

4.2529 *

4.2472 **

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