EUR/PLN may rise 121 - 170 pips

4.2434 is our pivot point.

Our preference

The upside prevails as long as 4.2434 is support.

Alternative scenario

The downside breakout of 4.2434 would call for 4.2352 and 4.2304.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.2520 and 4.2520). Finally, the EUR/PLN has crossed above its upper Bollinger band (4.2543).

Supports and resistances

4.2817 **

4.2768 *

4.2719 **

4.2670

4.2549 last

4.2466

4.2434 **

4.2352 *

4.2304 **

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