© Dukascopy Bank SA
A Falling Wedge pattern worth of attention has emerged in the greenback-zloti cross. Pattern's quality rating is significantly above the average and quality rating is at it's maximum. At the moment the pair is trading supported by the 4 month low which seems very likely to send the pair to test the pattern's resistance. However, as short and medium term technicals suggest the pair should maintain the bearish trend. Next major support are should be at 6 month low at 3.11. If the pair maintains similar trends (no major shocks, rallies or sell offs) pattern's support should be reached at the same time as well.
© Dukascopy Bank SA