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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
- EURPLN has been trending lower in recent days after breaking important support at 4.55 last week, which represents the 100D SMA and its MT upward trending support line. The pair is currently testing key level at 4.52 (200D SMA and LT upward trending support line). On the topside, first resistance stands now at 4.55, followed by 4.58 (50D SMA).
- GBPPLN has been trading sideways in recent days oscillating around 5.26 after failing to break through its 5.31 resistance several times last week; next resistance to watch above that level stands at 5.35. On the downside, key supports stand at 5.23 (100D SMA), followed by 5.09 (200D SMA).
- PLNJPY: momentum has been bullish after the pair broke through its 29 resistance last week, which represents the high of 2020/2021 and also the 50% retracement of the 2018-2021 high low range. Next levels to watch on the topside stands at 29.65, followed by 30 (61.8% Fibo retracement). On the downside, key support to watch stands now at 29.
- CZKPLN has been trending slightly higher this week as traders continue to chase CZK as CNB prepares for rate hikes in H2; key resistance to watch on the topside stands at 0.1791 (March 30 high). The LT resistance stands at 0.1834 (Dec 2011 high), which also represents the pair's all-time-high. On the downside, first support stands at 0.1772, followed by 0.1765 (50D SMA).
- PLNHUF has been retracing lower this week following Virag's comments on 'NBH should be ready to hike'; the pair broke below its 77.60 support this morning, next support to watch stands at 77. On the topside, first resistance stands at 78, followed by 78.50.
- USDPLN has been trending lower in the past week and is currently testing its 3.70 support; a break below that level would open the door for a move down to 3.65. On the topside, first resistance to watch stands at 3.78 (100D and 200D SMA), followed by 3.83 (50D SMA).
The LT chart also shows that 3.70 represents the 61.8% Fibo retracement of the 3.31 – 4.31 range (2018/2021 low high range). Another important support to watch below 3.65 stands at 3.62.
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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