CHF/PLN may rise 176 - 264 pips

Our pivot point stands at 4.5625.

Our preference

The upside prevails as long as 4.5625 is support.

Alternative scenario

The downside breakout of 4.5625 would call for 4.5477 and 4.5389.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.5726 and 4.5734).

Supports and resistances

4.6199 **

4.6111 *

4.6023 **

4.5935

4.5759 last

4.5683

4.5625 **

4.5477 *

4.5389 **

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