USD/PLN may rise 99 - 148 pips

Our pivot point is at 3.8199.

Our preference

The upside prevails as long as 3.8199 is support.

Alternative scenario

The downside breakout of 3.8199 would call for 3.8117 and 3.8069.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.8149 and 3.8237). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.8286).

Supports and resistances

3.8552 **

3.8503 *

3.8455 **

3.8406

3.8307 last

3.8231

3.8199 **

3.8117 *

3.8069 **

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