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PLN: 4.25 Remains Key Support Zone For EUR/PLN

PLN
PolandCEEMEAEM BulletBulletEmerging Market News

EUR/PLN staged a failed test of Sep 25 low of 4.2520 and rebounded off there to last change hands at 4.2655, 81 pips above neutral levels. The 4.25 zone continues to define the initial area of support and a clean break here is needed to reignite bearish momentum. In the meantime, the pair ticks away from there and bulls look for a move through the 20-EMA (4.2845) before eyeing firmer gains.

  • POLGB yields sit 1.4-3.0bp higher across the curve. The Finance Ministry released its issuance plan for 2025, which assumes three bond auctions per month through November and two bond auctions in December.
  • The WIG20 Index has sunk through its 50-DMA while moving around 1% lower in the course of today's session.
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EUR/PLN staged a failed test of Sep 25 low of 4.2520 and rebounded off there to last change hands at 4.2655, 81 pips above neutral levels. The 4.25 zone continues to define the initial area of support and a clean break here is needed to reignite bearish momentum. In the meantime, the pair ticks away from there and bulls look for a move through the 20-EMA (4.2845) before eyeing firmer gains.

  • POLGB yields sit 1.4-3.0bp higher across the curve. The Finance Ministry released its issuance plan for 2025, which assumes three bond auctions per month through November and two bond auctions in December.
  • The WIG20 Index has sunk through its 50-DMA while moving around 1% lower in the course of today's session.