USD/PLN 4H Chart: Short-term decline expected

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Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)SellBuySell
Aggregate⇒⇒⇒

[ANNOUNCE] The USD/PLN exchange rate continued to trade within the short-term descending channel. [/ANNOUNCE] 

From a theoretical perspective, it is likely that the currency pair could trade downwards within the given channel in the medium-term. 

In the meantime, note that the exchange rate could gain support from the Fibo 50.00% at 3.6652. If the given support holds, it is likely that a reversal north could occur, and the rate could target the Fibo 23.60% at 3.8540.

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