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4.25 Remains Key Support Level For EUR/PLN

PLN

EUR/PLN continues to hover above 4.25, with this psychologically important figure providing formidable support to price action. From a technical point of view, a breach of that level would confirm a resumption of the medium-term downtrend, allowing bears to set their sights on 4.2131, the 1.00 projection of the Jan 17 - Apr 9 - Apr 16 price swing. Bulls see the 50-EMA at 4.2933 as the initial layer of resistance. When this is being typed, the pair deals -21 pips at 4.2572.

  • POLGB curve runs a tad steeper, with 3s outperforming at the margin. The Finance Ministry will offer OK0426, DS0727, PS0729, WZ1129 and DS1034 at today's switch auction. It will also buy back OK0724, PS1024, PS0425 and WZ0525 notes.
  • The WIG20 Index has shed 0.6% today, extending its pullback from recent cyclical highs printed around the 2,600 level.
  • There is little of note on the Polish economic docket today, but flash CPI data will cross the wires tomorrow at 09:00BST/10:00CEST.
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