USD/PLN 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
After touching the lower boundary at 3.2648 last time on October 15, the pair refused to grow immediately and decided to hover in the lower half of the channel between two trend-lines. Right now it is limited by a significant resistance line at 3.3613 (weekly and monthly R1). Technical indicators on the short-term time-frame suggest the US Dollar to start appreciating and eventually breach the mentioned obstacle. Moreover, they are supported by weekly ones, while daily studies are mixed for the time being. Market sentiment, however, changed just a little since our last analysis of this currency pair, as more than 70% of traders still expect the Greenback to drop versus the Polish zloty.
© Dukascopy Bank SA
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