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Technical Analysis: PLNJPY Finds Support At 38.2% Fibo

POLAND
  • USDPLN ticks lower this morning after testing its 3.85 resistance yesterday; next resistance to watch on the topside stands at 3.90. On the downside, first support to watch stands at 3.79 (100DMA), followed by 3.74 (50DMA).
  • EURPLN ticks lower this morning after failing to break through its 4.55 resistance; a break above that level would open the door for a move up to 4.5650. On the downside, first support to watch stands at 4.5260 (200DMA), followed by 4.50.
  • GBPPLN ticks higher this morning after finding support at its 100DMA at 5.28; resistances to watch on the topside stand at 5.31, followed by 5.34. On the downside, first support to watch below 5.28 stands at 5.25 (50DMA).
  • CZKPLN has been retracing higher in the past two days after finding a local low at 0.1747 yesterday; ST resistance to watch on the topside stands at 0.1769 (50DMA), followed by 0.1780. On the downside, first support to watch below 0.1747 stands at 0.1740.
  • PLNHUF consolidates lower after failing to break through its 79 resistance yesterday; ST supports to watch on the downside stand at 78, followed by 77.60. On the topside, next resistance to watch above 79 stands at 79.24 (200DMA).
  • PLNJPY ticks higher this morning after finding support slightly below 28.60, which corresponds to the 38.2% Fibo retracement of the 26.24 – 30.08 range; a break below that level would have opened the door for a move down to 28.32 (200DMA and LT upward trending support line). On the topside, first resistance stands at 28.85 (100DMA), followed by 29.

Source: Bloomberg/MNI

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