CHF/PLN may fall 240 - 358 pips

Our pivot point is at 4.3813.

Our preference

The downside prevails as long as 4.3813 is resistance.

Alternative scenario

The upside breakout of 4.3813, would call for 4.4013 and 4.4131.

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 stands below its 20 and 50 period moving average (respectively at 4.3755 and 4.3746). Finally, the CHF/PLN is trading below its lower Bollinger band (standing at 4.3669).

Supports and resistances

4.4131 **

4.4013 *

4.3813 **

4.3734

4.3642 last

4.3402

4.3284 **

4.3165 *

4.3046 **

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