EUR/PLN may rise 125 - 176 pips

Our pivot point is at 4.2913.

Our preference

The upside prevails as long as 4.2913 is support.

Alternative scenario

The downside breakout of 4.2913 would call for 4.2827 and 4.2776.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.2932 and 4.2955). Finally, the EUR/PLN is trading above its upper Bollinger band (standing at 4.2992).

Supports and resistances

4.3279 **

4.3228 *

4.3176 **

4.3125

4.3000 last

4.2947

4.2913 **

4.2827 *

4.2776 **

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