CHF/PLN may fall 185 - 269 pips

Our pivot point is at 4.6173.

Our preference

The downside prevails as long as 4.6173 is resistance.

Alternative scenario

Above 4.6173, look for 4.6315 and 4.6400.

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 4.6098 and 4.6084).

Supports and resistances

4.6400 **

4.6315 *

4.6173 **

4.6118

4.6061 last

4.5876

4.5792 **

4.5707 *

4.5623 **

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