USD/PLN may fall 103 - 153 pips

3.9323 is our pivot point.

Our preference

Under pressure below 3.9323.

Alternative scenario

The upside breakout of 3.9323, would call for 3.9407 and 3.9457.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3.9277 and 3.9239). Finally, the USD/PLN has penetrated its lower Bollinger band (3.9232).

Supports and resistances

3.9457 **

3.9407 *

3.9323 **

3.9291

3.9225 last

3.9122

3.9072 **

3.9022 *

3.8972 **

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