USD/PLN 1H Chart: Short-term channel in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The US Dollar has been depreciating slightly against the Polish Zloty since the beginning of October. This movement has been bounded in a descending channel.  

Given that the rate is supported by the 100– and 200-hour SMAs, currently located near 3.740, it is likely that the pair goes upside within following days. If given channel does not hold, a breakout north occurs soon. A potential upside target is the upper boundary of a medium-term channel located circa 3.8400.  

Otherwise, it is expected that the pair makes a reverse and aim for the lower channel line located circa 3.6800.

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