CHF/PLN may rise 184 - 275 pips

4.4525 is our pivot point.

Our preference

The upside prevails as long as 4.4525 is support.

Alternative scenario

The downside breakout of 4.4525 would call for 4.4371 and 4.4280.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.4639 and 4.4677).

Supports and resistances

4.5189 **

4.5097 *

4.5005 **

4.4914

4.4730 last

4.4586

4.4525 **

4.4371 *

4.4280 **

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