CHF/PLN may fall 218 - 317 pips

Our pivot point stands at 4.4460.

Our preference

Under pressure below 4.4460.

Alternative scenario

The upside breakout of 4.4460, would call for 4.4626 and 4.4725.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.4301 and 4.4299).

Supports and resistances

4.4725 **

4.4626 *

4.4460 **

4.4395

4.4296 last

4.4078

4.3979 **

4.3881 *

4.3782 **

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