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'Oversold' PLN Consolidates Sharply This Morning

POLAND
  • USDPLN has been retracing lower in the past two days after finding a local high at 4.2130; Support to watch on the downside stands at 4.1530, followed by 4.10. On the topside, resistance to watch above 4.2130 stands at 4.24.
  • EURPLN has been consolidating sharply since yesterday, falling below the 4.70 level this morning ; next support to watch on the downside stands at 4.65. On the topside, first resistance stands at 4.7420, followed by 4.7940 (see chart).
  • Poland 10Y yield continues to retrace higher, gradually approaching its 3.50% resistance; next level to watch above that stands at 3.67%. On the downside, first support stands at 3.42%, followed by 3.22%.

Source: Bloomberg/MNI

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