CHF/PLN may fall 229 - 330 pips

Our pivot point stands at 4.5352.

Our preference

The downside prevails as long as 4.5352 is resistance.

Alternative scenario

Above 4.5352, look for 4.5522 and 4.5623.

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 4.5231 and 4.5241).

Supports and resistances

4.5623 **

4.5522 *

4.5352 **

4.5286

4.5216 last

4.4987

4.4886 **

4.4786 *

4.4685 **

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