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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
- USDPLN ticks slightly higher this morning after finding a local low of 3.65; next support on the downside stands at 3.60, the lowest level since June 2018. On the topside, resistances to watch stand at 3.70, followed by 3.73.
- EURPLN has been trending higher in the past wo days after receiving support slightly below 4.48; key resistances to watch on the topside stand at 4.52 (200D SMA), followed by 4.55 (100D SMA). On the downside, next support to watch below 4.47 stands at 4.42.
- GBPPLN ticks higher this morning and currently trades slightly below its 5.20 resistance, which represents the 38.2% Fibo retracement of the 2020/20201 low higher range; levels to watch on the topside stand at 5.23 (100D SMA), followed by 5.29 (50D SMA). On the downside, key support remains at 5.10 (200D SMA).
- PLNHUF has been retracing higher in the past week and is currently testing its 78 resistance; a break above that level would open the door for a move up to 78.60. On the downside, first support to watch stands at 77, followed by 76.60.
- CZKPLN has been moving sideways in the past week, oscillating between 0.1760 and its 50D SMA (0.1767). Key resistance to watch on the topside stands at 0.1791 (March 30); on the downside, first support below 0.1760 stands at 0.1753 (100D SMA).
- PLNJPY: momentum on the pair has been strong since the beginning of the month with the pair currently testing its ST resistance at 29.73; next resistance to watch on the topside stands at 30, which represents the 61.8% Fibo retracement of the 25.11 – 33.03 range (2018/2021 high low range), a break above that level would open the door for a move up to 30.40. On the downside, first support stands at 29.07 (50% retracement), followed by 28.69 (50D SMA).
The 14D RSI is showing that the pair has been slightly 'overbought' in the past few days.
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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