CHF/PLN may rise to 4.7388 - 4.8012

Our pivot point stands at 4.5200.

Our preference

The upside prevails as long as 4.5200 is support.

Alternative scenario

The downside breakout of 4.5200 would call for 4.4155 and 4.3533.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.5487 and 4.5447).

Supports and resistances

4.9259 **

4.8635 *

4.8012 **

4.7388

4.6032 last

4.5611

4.5200 **

4.4155 *

4.3533 **

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