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USDPLN Breaks Below Its 23.6% Fibo Support


Effective Fed Funds Rate


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(H2) Eyeing Support

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  • EURPLN has been consolidating lower in recent days after testing a local high at 4.7420 on Tuesday.
  • CEE currencies have been experiencing strong selling pressures in November as the uncertainty over the economic outlook has been rising.
  • RSI 14D indicator showed earlier this week that EURPLN was 'overbought' and broke slightly above the high of it LT upward trending channel.
  • Support to watch on the downside stands at 4.6150 (50DMA), followed by 4.5660 (200DMA).
  • Selling pressure on CEE could remain elevated in the coming weeks against the USD as falling growth expectations and rising uncertainty will push preference for 'safe' assets such as the greenback.

Source: Bloomberg/MNI