USD/PLN 1H Chart: Bearish momentum

OANDA:USDPLN   U.S. Dollar / Polish Zloty
The US Dollar has been depreciating against the Polish Zloty since the currency pair reversed from the upper boundary of a long-term ascending channel at 3.8400. This movement has been bounded in a short-term descending channel .

From a theoretical point of view, the general direction is expected to be south—the exchange rate should target the lower boundary of senior channel located at 3.6600.

However, technical indicators suggest that a decline might not be immediate, and the currency pair could breach the junior channel north. Also, the rate could re-test the resistance level formed by the weekly PP at 3.7995.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out