Quotations of the USDPLN currency pair reached last week the key resistance at 3.80. As can be seen in the daily chart below, the August 15 price closed even above this level and reached the upper edge of the growth channel. However, the next day the price returned to 3.80, and declines this week led them to support of the channel. The development of the price action on the aforementioned support will now be of significant importance. Breaking it may provide an opportunity to sell, where the key goal will be found close to 3.46. However, before the price reaches it, the sellers will have to face the swing lows at 3.6400 and 3.5950. Alternatively, defending the channel support by buyers may signal another upward move towards key resistance at 3.80 or the upper edge of the channel.
I trade on this instrument at broker XM, which has in its offer more than 300 other assets >>