USD/PLN 1H Chart: Two scenarios likely

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralSellBuy
Alligator(13;8;5)BuyNeutralNeutral
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇒

[ANNOUNCE] The USD/PLN currency pair could not surpass the psychological level at 3.7400. The pair reversed north from the given level at the end of June. [/ANNOUNCE] 

Currently, the exchange rate is trading at the 3.80 mark. Given, that the rate is supported by the 55-, 100– and 200-hour moving averages, currently located in the 3.7621/3.7905 range, it is expected, that bulls could prevail in the market in the short term. Important level to look out for is the Fibonacci 0.00% retracement at 3.8743. 

However, note, that the pair has to surpass the monthly R1 at the 3.8091 mark. If the given resistance level holds, a reversal south could occur in the nearest future. However, it is unlikely, that the rate could drop lower than 3.7382 due to support of the Fibonacci 23.60% retracement.

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