| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Buy |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The US Dollar has been depreciating against the Polish Zloty since the beginning of December. This movement has been bounded within the medium-term descending channel.
From a theoretical point of view, it is likely that some downside potential could prevail in the market, as the USD/PLN exchange rate should target the lower channel line located in the 3.7200/3.7600 area. The general direction could also remain south in the medium term.
However, note that the exchange rate is supported by the 55- and 100-period SMAs (4H time-frame chart) in the 3.8000 area. Thus, if the given channel does not hold, bulls could prevail in the market in the nearest future. In this case the rate could face the resistance of the Fibo 23.60% at 3.8540.