Free Trial

PLN Retracing Lower Against Major Crosses

POLAND
  • Selling pressure on PLN has been intense with USDPLN reaching a local high of 4.2420 yesterday before edging lower. The pair has been trending higher this morning, currently testing its 4.17 resistance; next level to watch on the topside stands at 4.20. On the downside, support to watch stands at 4.1240, followed by 4.10.
  • EURPLN also retraced sharply higher yesterday, given up most of its November-February gains. The pair is currently trading above the 4.65 level; next resistance to watch on the topside stands at 4.70. On the downside, support to watch below 4.65 stands at 4.60.

Source: Bloomberg/MNI

To read the full story

Close

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.