CHF/PLN may fall 204 - 293 pips

4.5796 is our pivot point.

Our preference

The downside prevails as long as 4.5796 is resistance.

Alternative scenario

The upside breakout of 4.5796, would call for 4.5945 and 4.6034.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.5753 and 4.5754). Finally, the CHF/PLN has penetrated its lower Bollinger band (4.5676).

Supports and resistances

4.6034 **

4.5945 *

4.5796 **

4.5737

4.5658 last

4.5454

4.5365 **

4.5276 *

4.5187 **

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