USD/PLN 1H Chart: Double Top

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Several hours earlier, USD/PLN dived below the neck-line of a 216-bar long double top pattern that originated in the beginning of May. Shortly after the breakout, the pair commenced a retreat; however, later, the instrument halted its decline and re-approached the neck-line, slightly below which it is sitting at the moment.
The SWFX data suggests that the U.S. Dollar may prolong its winning streak against the Polish Zloty in the hours to come-75% of all orders are placed to buy the pair. To confirm this, USD/PLN will have to perform a toilsome climb above the neck-line that may prove that the recent breakout was false and the real one is yet to come.
© Dukascopy Bank SA
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