USD/PLN may rise 114 - 163 pips

3.8562 is our pivot point.

Our preference

Rebound towards 3.8836.

Alternative scenario

The downside breakout of 3.8562 would call for 3.8480 and 3.8431.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (3.8646) but below its 50 period moving average (3.8750).

Supports and resistances

3.8934 **

3.8885 *

3.8836 **

3.8787

3.8673 last

3.8595

3.8562 **

3.8480 *

3.8431 **

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