USD/PLN may rise 109 - 159 pips

Our pivot point is at 3.9435.

Our preference

The upside prevails as long as 3.9435 is support.

Alternative scenario

Below 3.9435, expect 3.9351 and 3.9301.

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 3.9463 and 3.9458). Finally, the USD/PLN has crossed above its upper Bollinger band (3.9524).

Supports and resistances

3.9811 **

3.9761 *

3.9710 **

3.9660

3.9551 last

3.9468

3.9435 **

3.9351 *

3.9301 **

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