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EUR/PLN Briefly Pierces Resistance at 20-Day EMA

PLN
The zloty is underperforming in the EMEA region, with EURPLN ~0.35% firmer on the day. The cross is currently operating around yesterday’s highs has briefly pierced resistance at 4.3369, the 20-day EMA, in recent trade. PLNCZK has returned below 5.7000 having recorded its highest level since June 2021 yesterday. USDPLN, meanwhile, reached a fresh trend low of 3.8849 this morning but has since reversed its losses.
  • Despite today's gains, a technical downtrend in EURPLN remains intact with the Dec 13 move lower reinforcing this theme. This signals scope for an extension towards 4.2870, the Mar 4 2020 low. Clearance of this level would open 4.2650, the Feb 19 2020 low.

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