CHF/PLN may rise 184 - 264 pips

Our pivot point is at 4.4202.

Our preference

The upside prevails as long as 4.4202 is support.

Alternative scenario

The downside breakout of 4.4202 would call for 4.4068 and 4.3988.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.4243 and 4.4251).

Supports and resistances

4.4732 **

4.4652 *

4.4572 **

4.4492

4.4308 last

4.4255

4.4202 **

4.4068 *

4.3988 **

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