Free Trial

Technical Analysis: PLNHUF Breaks Below 200DMA Support

POLAND
  • USDPLN ticks higher this morning after finding support at 3.95 earlier; key resistance to watch on the topside stands at 4. On the downside, first support to watch below 3.95 stands at 3.9150 (50DMA).
  • EURPLN ticks lower this morning after finding a local high at 4.6320; support to watch on the downside stands at 4.60, followed by 4.5790 (50DMA). On the topside, first resistance to watch stands at 4.65.
  • GBPPLN ticks higher this morning after finding support at 5.45 earlier; resistance to watch on the topside stands at 5.50. On the downside, first support stands at 5.43, followed by 5.40.
  • CZKPLN ticks higher this morning and is currently testing its 0.18 resistance; next level to watch above that stands at 0.1810. On the downside, first support stands at 0.1791 (100DMA), followed by 0.1773 (200DMA).
  • PLNJPY has been consolidating higher in the past two days after finding support at its 50DMA (28.46) yesterday; resistance to watch on the topside stands at 29. On the downside, first support to watch below 28.46 stands at 28.1250.
  • PLNHUF has been consolidating sharply lower in the past few days, after failing to break through its 79.31 earlier this week, which corresponds to the 61.8% Fibo retracement of the 76-81.37 range. The pair broke below its 200DMA yesterday and tested the 78 level earlier. Next support to watch on the downside stands at 77.77 (100DMA), followed by 77.64 (50DMA). (chart below).

To read the full story

Close

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.