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Technical Analysis: EURPLN Approaching Its Key Resistance at 4.60

POLAND
  • USDPLN ticks slightly higher this morning after finding a local low at 3.88 earlier; ST resistance to watch on the topside stands at 3.90, followed by 3.94. On the downside, first support stands at 3.85, followed by 3.81 (100DMA).
  • EURPLN ticks higher this morning and is gradually approaching its ST resistance at 4.60; a break above that level would open the door for a move up to 4.65. On the downside, first support stands at 4.54 (100D, 200DMA).
  • GBPPLN ticks lower this morning after finding a local high at 5.38 yesterday; resistance to watch on the topside stands at 5.40, followed by 5.43. On the downside, first support stands at 5.34 (50DMA), followed by 5.29 (100DMA).
  • PLNJPY has been consolidating higher since yesterday after finding a local low at 28.10; resistance to watch on the topside stands at 28.42 (50DMA), followed by 28.55 (200DMA). On the downside, first support to watch below 28.10 stands at 28.
  • PLNHUF has been retracing higher since yesterday after finding support at 76.25 yesterday; ST key support to watch on the downside stands at 76. On the topside, first resistance stands at 77, followed by 77.42.
  • CZKPLN continues to trend higher after breaking above its key resistance at 0.18 on Wednesday; next resistance to watch stands at 0.1812, followed by 0.1834, which corresponds to the pair's all time high reached in December 2011. On the downside, first support stands at 0.18, followed by 0.1790 (50DMA).

Source: Bloomberg/MNI

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