CHF/PLN may fall 238 - 328 pips

Our pivot point is at 4.5912.

Our preference

The downside prevails as long as 4.5912 is resistance.

Alternative scenario

The upside breakout of 4.5912, would call for 4.6062 and 4.6151.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.5868 and 4.5875). Finally, the CHF/PLN is trading below its lower Bollinger band (standing at 4.5793).

Supports and resistances

4.6151 **

4.6062 *

4.5912 **

4.5853

4.5785 last

4.5547

4.5457 **

4.5368 *

4.5279 **

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