CHF/PLN may rise 200 - 300 pips

Our pivot point stands at 4.4041.

Our preference

The upside prevails as long as 4.4041 is support.

Alternative scenario

The downside breakout of 4.4041 would call for 4.3874 and 4.3774.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.4171 and 4.4193). Finally, the CHF/PLN is trading above its upper Bollinger band (standing at 4.4253).

Supports and resistances

4.4770 **

4.4670 *

4.4570 **

4.4470

4.4270 last

4.4107

4.4041 **

4.3874 *

4.3774 **

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