EUR/PLN may fall 149 - 216 pips

Our pivot point is at 4.3275.

Our preference

The downside prevails as long as 4.3275 is resistance.

Alternative scenario

The upside breakout of 4.3275, would call for 4.3387 and 4.3453.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.3226 and 4.3256). Finally, the EUR/PLN has penetrated its lower Bollinger band (4.3178).

Supports and resistances

4.3453 **

4.3387 *

4.3275 **

4.3232

4.3168 last

4.3019

4.2952 **

4.2886 *

4.2820 **

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