Another push higher Tuesday and again into Wednesday, reinforcing the previous tentative breakout from the Ascending Triangle pattern above 3.8594 and 3.8644 resistances, leaving both short- and intermediate-term bull themes intact and aiming higher for Wednesday.
The intermediate-term outlook is bullish, sustained by 2019 solid consolidation above the 38.2% Fibonacci retracement of the 2018 rally.
- We see an upside bias for 3.8669; break here aims for 3.8815 and maybe 3.9000.
- But below 3.8600 opens risk down to 3.8557, maybe 3.8471.
Intermediate-term Outlook – Upside Risks: We see an upside risk for 3.9000.
- Higher targets would be 3.9555 and 4.0000
- What Changes This? Below 3.8006 shifts the outlook back to neutral; through 3.7400 is needed for a bear theme.
Daily USDPLN Chart