EUR/PLN may rise 138 - 205 pips

4.3353 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 4.3353 would call for 4.3241 and 4.3174.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (4.3458) but under its 50 period moving average (4.3498). Finally, the EUR/PLN is trading above its upper Bollinger band (standing at 4.3483).

Supports and resistances

4.3828 **

4.3762 *

4.3695 **

4.3628

4.3490 last

4.3397

4.3353 **

4.3241 *

4.3174 **

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