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Technical Analysis: CZKPLN Testing Key Resistance at 0.18

POLAND
  • USDPLN has been retracing lower in the past two days after failing to break through its 3.90 resistance yesterday; support to watch on the downside stands at 3.85, followed by 3.83. On the topside, key resistance remains at 3.98 (March 31 high).
  • GBPPLN ticks lower this morning after finding a local high at 5.41 yesterday; next resistance to watch on the topside stands at 5.43, followed by 5.49. On the downside, first support stands at 5.34, followed by 5.30.
  • EURPLN ticks lower this morning after failing to break through its 4.60 resistance; a break above that level would have opened the door for a move up to 4.64. On the downside, first resistance stands at 4.57, followed by 4.55 (100DMA).
  • PLNJPY has been trending higher in the past few days, currently trading slightly above its 200DMA at 28.39; next level to watch on the topside stands at 28.50, followed by 28.57. On the downside, first support stands at 28.39, followed by 28.
  • PLNHUF ticks lower this morning, trading slightly above its 50DMA at 77.96; a break below that level would open the door for a move down to 77.54. On the topside, first resistance stands at 78.42 (100DMA), followed by 79.
  • CZKPLN has been trending higher in the past week and is currently testing its key resistance at 0.18; a break above that level would open the door for a move up to 0.1834, which represents the pair's all time high reached in December 2011. On the downside, first support stands at 0.1788, followed by 0.1780.

Source: Bloomberg/MNI

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