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FX TECHS: PLN Weakness Extends

  • EURPLN is firmer again this morning. The cross has cleared a host of key resistance levels that have capped gains over the past year. These are:
    • 4.6342 Mar 24, 2020 high and
    • 4.6558 Oct 27, 2020 high
  • The break higher confirms a resumption of the underlying broader uptrend that started mid-Jan 2020.
  • This paves the way for a climb towards the 4.7000 handle, with scope too for 4.7458, the Mar 30, 2009 high.
  • Initial support lies at 4.6247, Mar 26 low.
  • USDPLN is approaching key resistance at 3.9717, Oct 29 2020 high. A break would open 4.0021, Jun 22, 2020 high.
MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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