Currency pair US Dollar to Polish Zloty USD/PLN continues to move as part of the formation of the «Head and Shoulders» model. At the time of the publication of the forecast, the exchange rate of the US Dollar to the Polish Zloty is 3.98. At the moment, we should expect a test of the resistance level near the area of 3.99. Then, the continuation of the fall of the USD/PLN quotes to the area below the level of 3.85.
USD/PLN forecast Polish Zloty June 26, 2020
In favor of reducing the currency pair, the US Dollar Polish Zloty will test the resistance line on the relative strength index (RSI). As well as a rebound from the upper boundary of the «Head and Shoulders» reversal pattern. Cancellation of the option of falling USD/PLN pair on Forex will be a strong growth and a breakdown of the 4.00 area. This will indicate a breakdown of the resistance level and the continued rise of the currency pair quotes in the area above the level of 4.08. Expect confirmation of a drop in the USD/PLN quotes with the breakdown of the support area and closing below the level of 3.89.
USD/PLN forecast Polish Zloty June 26, 2020 suggests an attempt to test the resistance area near the level of 3.99. Where can we expect a rebound and continued fall of the currency pair with a potential target at the level of 3.85. A test of the trend line on the relative strength index (RSI) will favor the depreciation of the Dollar. Cancellation of the fall option will be a strong growth and a breakdown of the 4.00 area.
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