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EUR/PLN Retests 200dma, Brushing off Rising Covid Cases

POLAND
  • Local rates flat at the open, but remain within the broad bear steepening uptrend held since 01 Feb.
  • 10Y hovering below 1.35, 5Y below 0.70.
  • EUR/PLN drifts higher at the open after a strong push lower in yesterday's session after touching the 200dam at 4.4805.
  • Spot has pulled back towards 4.4885 resistance and may look to retest the level if global risk sentiment remains favourable for PLN appreciation.
  • Slight concern over new rise in cases, despite Poland's extensive vaccine rollout programme, but having little impact on PLN at present.
  • Sup1: 200dma at 4.4798, Sup2: 4.4732, Res1: 4.4885, Res2: 4.4945
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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