Free Trial

EUR/PLN Clears 50/100DMA as Bullish Techs Follow Through

POLAND
  • EUR/PLN continues to drift higher as risk aversion hits EM currencies, with EUR/USD weakness compounding the matter.
  • Focus remains on tomorrow's NBP, expected to see a hold with little change to the dovish rhetoric, despite upside inflation/growth forecast revisions.
  • Price action is now comfortably above both 100 & 50dmas on the daily chart and looks to be in bull mode going into tomorrow's meeting (RSI at 64.07).
  • Citi recently warned of risks to a lift in CEE front-end yields from underpriced covid risks, which are worth monitoring, although cases are in the 5-7k range and not majorly aggressive given the strong vaccination drive.
  • Intraday Sup1: 4.5368, Sup2: 4.5302, Res1: 4.5414, Res2: 4.5464
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.