CHF/PLN may rise 262 - 381 pips

Our pivot point stands at 4.5451.

Our preference

The upside prevails as long as 4.5451 is support.

Alternative scenario

The downside breakout of 4.5451 would call for 4.5251 and 4.5131.

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 4.5539 and 4.5544). Finally, the CHF/PLN has crossed above its upper Bollinger band (4.5623).

Supports and resistances

4.6270 **

4.6150 *

4.6031 **

4.5912

4.5650 last

4.5529

4.5451 **

4.5251 *

4.5131 **

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