EUR/PLN may rise 118 - 175 pips

Our pivot point is at 4.3237.

Our preference

As long as 4.3237 is support look for 4.3488.

Alternative scenario

The downside breakout of 4.3237 would call for 4.3141 and 4.3084.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.3312 and 4.3305).

Supports and resistances

4.3602 **

4.3545 *

4.3488 **

4.3431

4.3313 last

4.3274

4.3237 **

4.3141 *

4.3084 **

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