USD/PLN may fall 133 - 183 pips

Our pivot point stands at 3.9556.

Our preference

The downside prevails as long as 3.9556 is resistance.

Alternative scenario

Above 3.9556, look for 3.9640 and 3.9690.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.9544 and 3.9560).

Supports and resistances

3.9690 **

3.9640 *

3.9556 **

3.9523

3.9458 last

3.9325

3.9275 **

3.9225 *

3.9175 **

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