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Technical Analysis: PLN Appreciates This Morning Following Last Week Selloff

POLAND
  • USDPLN ticks lower this morning after reaching a local high at 4.0630 on Friday; support to watch on the downside stands at 4.0160, followed by 4. On the topside, next resistance to watch above 4.0630 stands at 4.10.
  • EURPLN ticks also lower this morning after reaching a local high at 4.65 on Friday; support to watch on the downside stands at 4.60, followed by 4.5930 (50DMA). On the topside, first resistance stands at 4.68.
  • GBPPLN ticks has been consolidating lower this morning; next support to watch on the downside stands at 5.40, followed by 5.39. On the topside, first resistance to watch stands at 5.45, followed by 5.50.
  • PLNJPY ticks higher this morning after finding support slightly above the 28 on Friday; levels to watch on the topside stands at 28.44 (50DMA), followed by 28.50. On the downside, first support to watch below 28 stands at 27.85.
  • PLNHUF ticks higher this morning and is currently trading slightly above the 79 level; next resistance to watch on the topside stands at 79.50. On the downside, first support to watch below 79 stands at 78.32 (200DMA).
  • CZKPLN consolidates lower this morning after reaching a new all-time high at 0.1843 on Friday. Support to watch on the downside stands at 0.1825, followed by 0.1816. On the topside, next resistance to watch above 0.1843 stands at 0.1850, followed by 0.1875, which represents the high of the LT upward trending channel. (chart below).

Source: Bloomberg/MNI

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