USD/PLN may rise 120 - 169 pips

Our pivot point stands at 3.9098.

Our preference

As long as 3.9098 is support look for 3.9413.

Alternative scenario

Below 3.9098, expect 3.9015 and 3.8965.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.9183 and 3.9140). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.9231).

Supports and resistances

3.9513 **

3.9463 *

3.9413 **

3.9364

3.9244 last

3.9131

3.9098 **

3.9015 *

3.8965 **

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