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EUR/PLN Maintains Downside Momentum, 50dma Eyed Below

POLAND
  • EUR/PLN trades -0.18% lower this morning, broadly tracking early weakness in the BBDXY which is slowly reversing.
  • The cross traded choppily in yesterday's session as mixed US data sparked market-wide volatility.
  • Unemployment, average wages and consumer confidence data all surprised negatively this morning, coming in below expectations across the board.
  • Focus today will be on the FOMC minutes this evening, with market expectations aligning with a more hawkish discussion on the tapering of asset purchases which could continue to weigh on global risk sentiment.
  • Momentum in the cross remains bearish, with the 50dma coming into focus at 4.5499.
  • Intraday Sup1: 4.5511, Sup2: 4.5430, Res1: 4.5634, Res2: 4.5677
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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