EUR/PLN may rise 91 - 133 pips

Our pivot point is at 4.2564.

Our preference

The upside prevails as long as 4.2564 is support.

Alternative scenario

The downside breakout of 4.2564 would call for 4.2494 and 4.2451.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.2633 and 4.2662). Finally, the EUR/PLN has crossed above its upper Bollinger band (4.2674).

Supports and resistances

4.2893 **

4.2851 *

4.2809 **

4.2767

4.2676 last

4.2592

4.2564 **

4.2494 *

4.2451 **

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