USD/PLN 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is surging in an upward channel against the Polish Zloty, as the currency exchange rate is approaching near the pattern's lower trend line, which it most likely will hit at around the level of 3.9120. However, at the moment the pattern's support line is located lower at 3.9030, and the currency exchange rate is not falling to it directly, as the 55-hour SMA is moving upwards at 3.9091 and provides support to the pair. It is also most likely that the SMA will move to support the trend line later on. Afterwards, the rate is set to surge up to the pattern's resistance line at 3.9475. Although, the surge will be hindered by the second weekly resistance line at 3.9346.
© Dukascopy Bank SA
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Fri, 02 Sep 2016 07:55:05 GMT

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