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Technical Analysis: CZKPLN Breaking Below 100DMA Support

POLAND
  • USDPLN has been retracing lower in the past few days, currently testing its 3.78 support (100DMA); next level to watch on the downside stands at 3.74. On the topside, first resistance stands at 3.8450, followed by 3.90.
  • EURPLN has also been retracing lower and is currently flirting with its 4.50 support level; next support to watch on the downside stands at 4.45. On the topside, first key resistance stands at 4.53 (200DMA), followed by 4.54 (100DMA).
  • GBPPLN has been trading within a tight range this week, oscillating between its 50DMA (5.25) and 100DMA (5.27). Next resistance to watch on the topside stands at 5.34; on the downside, supports to watch stand at 5.20 and 5.15 (200DMA).
  • PLNJPY ticks lower this morning after finding a local high at 29.30 earlier; resistance to watch on the topside stands at 29.34 (50DMA), follow by 29.50. On the downside, first support stands at 29, followed by 28.85 (100DMA).
  • PLNHUF has been trending higher this week after breaking above its 50DMA yesterday; next resistance to watch on the topside stands at 78.69 (100DMA). On the downside, first support now stands at 78, followed by 77.54.
  • CZKPLN has been consolidating lower this month, breaking below its 0.1761 support this morning, which represents the 100DMA and its LT upward trending support line; next support stands at 0.1754 (23.6% Fibo retracement of the 0.1634 – 0.1791 range). On the topside, first resistance stands at 0.1769 (50DMA), followed by 0.1776. (chart below).

Source: Bloomberg/MNI

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