CHF/PLN may rise 197 - 286 pips

4.5564 is our pivot point.

Our preference

The upside prevails as long as 4.5564 is support.

Alternative scenario

The downside breakout of 4.5564 would call for 4.5415 and 4.5326.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.5640 and 4.5656).

Supports and resistances

4.6147 **

4.6058 *

4.5968 **

4.5879

4.5682 last

4.5623

4.5564 **

4.5415 *

4.5326 **

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