CHF/PLN may fall 179 - 268 pips

4.5649 is our pivot point.

Our preference

The downside prevails as long as 4.5649 is resistance.

Alternative scenario

The upside breakout of 4.5649, would call for 4.5798 and 4.5887.

Comment

The RSI is below 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 4.5642 and 4.5568). Finally, the CHF/PLN has penetrated its lower Bollinger band (4.5517).

Supports and resistances

4.5887 **

4.5798 *

4.5649 **

4.5590

4.5490 last

4.5311

4.5222 **

4.5133 *

4.5044 **

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