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NBP Hike Largely Priced In, EURPLN Nearly Unchanged

  • EURPLN is nearly unchanged following the NBP decision.
  • Today’s decision was fully priced in by the market, and next rates will be considered ‘cosmetic fine tuning’ depending on the future inflation prints.
  • PLN moves will now largely depend on the level of risk aversion in the coming months.
  • Resistance to watch on EURPLN stands at 4.7390 (50DMA), followed by key level at 4.8035 (38.2% Fibo).
  • On the downside, ST support to watch stands at 4.6940 (100DMA).

Source: Bloomberg

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