The American Dollar is trading against the Polish Zloty simultaneously in the two descending channels. The junior channel represents a rebound of the currency exchange rate from the bottom edge of the dominant channel, which was supported by the monthly S2 at 3.7601. However, narrowing fluctuations of the pair on this trading week suggest that this pattern will not sustain for long and that the pair will return within the boundaries of the senior channel. More specifically, formation of the falling wedge, whose lower lows are supported by the weekly S1 at 3.7073, allows to assume that the breakout will occur in the upward direction soon.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 3.7827 | Weekly PP | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 3.7634/46 | 100-period SMA; Upper Bollinger Band | RSI (14) | Neutral | Buy | Buy | ||
| R2 | 3.7601 | Monthly S2 | Stochastic (5; 3; 3) | Sell | Sell | Neutral | ||
| R1 | 3.7361/79 | 20-period SMA; Trend line | ADX (14) | Sell | Sell | Neutral | ||
| S1 | 3.7178 | Trend line | CCI (14) | Neutral | Neutral | Buy | ||
| S2 | 3.7073 | Bottom Bollinger Band; Weekly S1 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 3.7047 | Trend line | Alligator (13; 8; 5) | Sell | Sell | Sell | ||
| S4 | 3.6785 | Trend line | SAR (0.02; 0.2) | Sell | Sell | Sell | ||
| Aggregate | ↘ | ↘ | → |