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USDPLN returns below the 4.00 handle
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Main trend remains upward
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Chance for a test of a lower limit of 1:1 structure
USDPLN is trading in an upward trend. The pair reached a fresh YTD high recently but pull back below the 4.00 handle later on and the correction may deepen. The nearest support can be found in the vicinity of the 3.9730 handle, where one can find the lower limit of 1:1 structure. As long as the price holds above it, there is a chance for an upward move to continue. However, breaking below the 3.9720 handle may pave the way for the decline to as low as 3.90 PLN, where one can find support marked by the previous price reactions and the 38.2% Fibonacci retracement.
USDPLN H4 interval. Source: xStation5
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