CHF/PLN may fall 259 - 377 pips

Our pivot point stands at 4.5364.

Our preference

The downside prevails as long as 4.5364 is resistance.

Alternative scenario

The upside breakout of 4.5364, would call for 4.5562 and 4.5680.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.5227 and 4.5276).

Supports and resistances

4.5680 **

4.5562 *

4.5364 **

4.5286

4.5174 last

4.4915

4.4797 **

4.4679 *

4.4561 **

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