EUR/PLN may fall 107 - 139 pips

Our pivot point stands at 4.3218.

Our preference

As long as 4.3218 is resistance look for 4.3025.

Alternative scenario

The upside breakout of 4.3218, would call for 4.3272 and 4.3304.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.3169 and 4.3174).

Supports and resistances

4.3304 **

4.3272 *

4.3218 **

4.3197

4.3164 last

4.3057

4.3025 **

4.2994 *

4.2962 **

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