USD/PLN 4H Chart: Reaches new low levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The US Dollar has revealed that there exists a larger scale pattern against the Polish Zloty. The patterns resistance has forced the pair into a decline, which has taken the form of a descending channel. Moreover, the pair has reached below the historical low level of 3.53. 

The next target for the channel pattern will be the first weekly support at the 3.5137 level. More likely there a short pause will take place until the upper trend line of the channel forces the rate lower. 

Afterwards, the support line of the most dominant pattern below the 3.50 mark could be reconfirmed in a rebound.

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