USD/PLN 1H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The US Dollar has been depreciating against the Polish Zloty since the beginning of March when the exchange rate reversed from the upper boundary of the short-term descending channel at 3.8576.  

As apparent on the chart, the currency pair is testing the lower channel line at 3.7720. If given channel holds, it is likely that a reversal north occurs within the following sessions, and the rate targets the upper channel line located circa 3.8560.  

Otherwise, it is expected that a breakout south occurs in the nearest future. Potential downside target is the psychological level at the 3.7500 mark.

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