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EUR/PLN Pressures Lower Bound of the Bull Channel Pattern

POLAND
  • EUR/PLN trades -0.15% lower this morning in line with early weakness from in EUR/USD.
  • The cross pulled back from 4.59 in yesterday's session and is now exerting pressure on the lower threshold of the bull channel pattern on the daily chart.
  • Support from the 50dma comes in below at 4.5569, with a consolidated break of both the channel and dma being a bearish development for the cross.
  • Focus shifts to the NBP minutes due tomorrow where markets will look for more clues about the rate path amid concerns of rising price pressures.
  • Intraday Sup1: 4.5634, sup2: 4.5595, Res1: 4.5738, Res2: 4.5851


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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