Since the end of December, the USD/PLN exchange rate has been trading within a rising wedge pattern. From a theoretical perspective, it is likely that the currency pair could continue to move within the predetermined pattern in the medium term. The pair could exceed the 3.7500 level by the beginning of April. In the meantime, note that the exchange rate could gain support from the 55-, 100–” and 200-period SMAs in the 3.7200 area. Thus, a breakout south could occur, and the rate could re-test the Fibo 61.80% at 3.8373.
