EUR/PLN 1H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The common currency has been rallying against the Polish Zloty for 110 hours; the rally took place in the area bounded by two gradually converging, upward sloping lines. Recently, the currency couple rebounded to 4.1749, the level at which the decline that led to a formation of the rising wedge pattern started in early January.
At the moment, the currency couple is faltering not far away from the recent high and it may re-approach the peak that is reinforced by bullishness of the technical indicators.
© Dukascopy Bank SA
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