EUR/PLN may fall 85 - 117 pips

Our pivot point is at 4.3466.

Our preference

The downside prevails as long as 4.3466 is resistance.

Alternative scenario

Above 4.3466, look for 4.3520 and 4.3552.

Comment

The RSI is below 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 4.3441 and 4.3429). Finally, the EUR/PLN has penetrated its lower Bollinger band (4.3410).

Supports and resistances

4.3552 **

4.3520 *

4.3466 **

4.3445

4.3407 last

4.3322

4.3290 **

4.3258 *

4.3226 **

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