CHF/PLN may fall 188 - 268 pips

4.4478 is our pivot point.

Our preference

The downside prevails as long as 4.4478 is resistance.

Alternative scenario

The upside breakout of 4.4478, would call for 4.4612 and 4.4692.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.4428 and 4.4381).

Supports and resistances

4.4692 **

4.4612 *

4.4478 **

4.4425

4.4353 last

4.4165

4.4085 **

4.4005 *

4.3925 **

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