EUR/PLN may rise 104 - 146 pips

Our pivot point stands at 4.2805.

Our preference

Our next up target stands at 4.3025.

Alternative scenario

The downside breakout of 4.2805 would call for 4.2734 and 4.2691.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.2862 and 4.2878).

Supports and resistances

4.3110 **

4.3068 *

4.3025 **

4.2983

4.2879 last

4.2833

4.2805 **

4.2734 *

4.2691 **

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