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EURPLN Approaching the High of LT Upward Trending Channel

POLAND
  • EURPLN surged to new high of 4.7444 this morning (highest level since April 2009) as selling pressure on PLN remains elevated.
  • The pair is currently trading at the high of its LT upward trending channel; a break above that level would open the door for a move up to 4.7940.
  • On the downside, first support stands at 4.70, followed by 4.6770.

Source: Bloomberg/MNI

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