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EURPLN Returns to Flat with NBP Rate Decision Entering Focus

PLN

With markets muted and EURPLN price action lacking any meaningful follow-through, market participants will be looking ahead to the NBP rate decision on Wednesday for directionality - with both the headline rate decision and Glapinski's press conference on Thursday providing opportunities for PLN volatility.

  • Bears will look for a move in through the Oct 17/Jul 31 lows of 4.4096/4.3986, while a clearance of the Oct 25 high of 4.4898 would expose the 50-EMA at 4.5057.
  • Our full preview of the decision can be found here.

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