USD/PLN may rise 112 - 162 pips

Our pivot point is at 3.9489.

Our preference

As long as 3.9489 is support look for 3.9777.

Alternative scenario

Below 3.9489, expect 3.9405 and 3.9354.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.9578 and 3.9557). Finally, the USD/PLN is trading above its upper Bollinger band (standing at 3.9609).

Supports and resistances

3.9878 **

3.9828 *

3.9777 **

3.9727

3.9615 last

3.9522

3.9489 **

3.9405 *

3.9354 **

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