EUR/PLN may fall 82 - 115 pips

Our pivot point stands at 4.3258.

Our preference

The downside prevails as long as 4.3258 is resistance.

Alternative scenario

The upside breakout of 4.3258, would call for 4.3314 and 4.3347.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.3214 and 4.3216). Finally, the EUR/PLN is trading below its lower Bollinger band (standing at 4.3202).

Supports and resistances

4.3347 **

4.3314 *

4.3258 **

4.3236

4.3201 last

4.3119

4.3086 **

4.3052 *

4.3019 **

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