EUR/PLN may fall 118 - 160 pips

4.3000 is our pivot point.

Our preference

The downside prevails as long as 4.3000 is resistance.

Alternative scenario

The upside breakout of 4.3000, would call for 4.3071 and 4.3114.

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 4.3007 and 4.3024).

Supports and resistances

4.3114 **

4.3071 *

4.3000 **

4.2972

4.2934 last

4.2816

4.2774 **

4.2731 *

4.2689 **

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