EUR/PLN may fall 114 - 171 pips

Our pivot point is at 4.2841.

Our preference

The downside prevails as long as 4.2841 is resistance.

Alternative scenario

Above 4.2841, look for 4.2937 and 4.2994.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.2816 and 4.2860). Finally, the EUR/PLN has penetrated its lower Bollinger band (4.2768).

Supports and resistances

4.2994 **

4.2937 *

4.2841 **

4.2804

4.2767 last

4.2653

4.2596 **

4.2539 *

4.2482 **

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