USD/PLN may rise to 4.0611 - 4.1222

Our pivot point stands at 3.8472.

Our preference

The upside prevails as long as 3.8472 is support.

Alternative scenario

The downside breakout of 3.8472 would call for 3.7449 and 3.6840.

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 trading above both its 20 and 50 period moving average (respectively at 3.8583 and 3.8890). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.9205).

Supports and resistances

4.2444 **

4.1833 *

4.1222 **

4.0611

3.9306 last

3.8874

3.8472 **

3.7449 *

3.6840 **

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