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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POLAND
- Even though market uncertainty remains extremely elevated globally, further ‘improvements’ in the Russia/Ukraine conflict could accelerated the momentum on CEE currencies.
- After reaching an all-time high at 5, EURPLN has been retracing sharply lower this week, consolidating back towards the 4.80 level.
- Key support to watch stands at 4.7550, which represents the high of the LT upward trending channel.
- However, ‘buying the dip’ on markets (i.e. CEE currencies) could come with a cost due to the binary regime we are experiencing at the moment. Bad news on Russia/Ukraine would immediately be reflected by some PLN weakness against major crosses.
- ST resistance to watch one the topside stands at 4.89 (150% projection of 4.4030 – 4.7550 range), followed by 4.9220 (161.8% Fibo).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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