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EURPLN Finds Support At 23.6% Fibo

POLAND
  • USDPLN has been consolidating lower in the past week, the pair is currently trading slight below its 50DMA at 4.3340 . Next support to watch on the downside stands at 4.2950. On the topside, resistance to watch stands sat 4.40.
  • GBPPLN ticks lower this morning, gradually approaching its ST support at 5.40. On the topside, resistance to watch stands at 5.47 (200DMA).
  • CZKPLN continues to gradually retrace lower this morning, currently trading below its 100DMA (0.1883). Key ST support to watch stands at 0.1850 (LT upward trending channel). On the topside, resistance to watch above 0.1883 stands at 0.19.
  • PLNHUF tick lower this morning, currently trading slightly below the 83 level; ST resistance to watch on the topside stands at 83.37. On the downside, support to watch stands at 82.30.
  • PLNJPY has been retracing high in the past week, currently trading close to the high of its 1M range; key ST resistance to watch on the topside stands at 30. On the downside, support to watch stands at 29.0460.
  • EURPLN ticks lower this morning, breaking below its 200DMA at 4.6190; the pair tested its 4.6050 support earlier, which corresponds to the 23.6% Fibo retracement of the 4.4830 – 5.0020 range. Next level to watch on the downside stands at 4.60. On the topside, resistance to watch stands at 4.6360 (100DMA). (see chart).

Source: Bloomberg

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