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Bullish Theme


Firm Within Its Bull Channel


Monitoring Trendline Support

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  • USDPLN received strong support at 3.80 yesterday after consolidating sharply since the start of the month amid PLN strength. Levels to watch on the downside (after 3.80) stand at 3.78 (200D SMA), followed by 3.76 (100D SMA). On the topside, first resistance stands at 3.90.
  • EURPLN: strong upside move this morning after failing to break through its 100D SMA support yesterday at 4.53. Next key support to watch on the downside stands at 4.50 (200D SMA), while first resistance on the topside stands at 4.60.
  • GBPPLN was halted by its 5.20 support yesterday, which represents the 38.2% Fibo retracement of the 2020/2021 high / low range. THe pair rallied this morning and is currently testing its 50D SMA resistance at 5.28. Levels to watch on the topside stand at 5.31 (23.6% Fibo), followed by 5.35.
  • PLNJPY did not manage to break through its 29 resistance (2020/2021 high) and retraced sharply lower this morning following a strong momentum in April. ST key supports to watch stand at 28.29 (50D SMA), followed by 28.15 (100D SMA).
  • CZKPLN was also halted by its 100D SMA support at 0.1734 yesterday following a sharp consolidation in April. Levels to watch on the topside stand at 0.1760, followed by 0.1770. On the downside, next support to watch (after 100D SMA) stands at 0.1720.
  • The 10Y yield continues to retrace lower this week; next supports to watch on the downside stand at 1.46% (50D SMA), followed by 1.40%. On the topside, ST key resistance remains at 1.60%.