USD/PLN 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Unlike other USD-crosses, the currency pair with the Polish Zloty has been moving sideways during last six days. Therefore, the pair is gradually filling space between two upward-sloping trend-lines. The present trading level is located at 3.2438 and we expect the pair to go down further, at least until the lower trend-line, while more than 70% of market participants support this idea. Technical indicators are mixed, however, in the long-term they assume the U.S. Dollar to gain value against Polish currency. Meanwhile, during its short-term downside movement, the pair will face a considerable support level at 3.2381/76, strengthened by the September 11 low and daily S1.
© Dukascopy Bank SA
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