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(M1) Bullish Focus


(M1) New Multi-Month Highs


Clearing Major Support


Sizeable Resistance Building


Needle Still Points North

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  • USDPLN ticks higher after failing to break through its 100D SMA (3.77) in the past week; on the topside, ST resistance stands at 3.83 (50D SMA), followed by 3.90. On the downside, next support to watch after 3.77 stands at 3.70.
  • GBPPLN has been also trending higher in the past two days, gradually approaching its ST resistance at 5.31.; a break above that level would open the door for a move up to 5.35; on the downside, key support to watch below 5.20 (100D SMA) stands at 5.07 (200D SMA).
  • CZKPLN ticks higher this morning after receiving support slightly above its 50D SMA yesterday; key resistance to watch on the topside stands at 0.1791 (May 30 high). On the downside, key level to watch after 0.1757 (50D SMA) stands at 0.1745 (100D SMA).
  • PLNHUF has been retracing lower this morning after failing to break through its 50D SMA yesterday; supports to watch on the downside stand at 78.48, followed by 78. On the topside, resistances to watch above 79.29 (50D SMA) stand at 79.44 (100D SMA), followed by 79.69 (200D SMA).
  • PLNJPY (chart below) rejected its 29 resistance yesterday (one more time), which represents the 2020-2021 high and the 50% retracement of the 2018-2021 range. Next resistances to watch on the topside stand at 29.50 (high of the LT upward trending channel), followed by 30 (61.8% Fibo). On the downside, levels to watch remains at 28.39 (50D SMA), followed by 28.23 (100D SMA).

Source: Bloomberg/MNI