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Technical Analysis: USDPLN Testing Its 200D SMA Support

POLAND
  • USDPLN has been retracing lower in the past few days and is currently testing its 3.77 support (100D and 200D SMA); next level to watch on the downside stands at 3.74 (50D SMA). Resistance to watch on the topside stands 3.8450, followed by 3.90.
  • EURPLN has been gradually testing new lows this week, with the pair approaching its 4.50 support; next level to watch below that stands at 4.45. On the topside, first resistance to watch stands at 4.53 (200D SMA).
  • GBPPLN has been retracing lower in the past week, currently testing its 50D SMA at 5.25; next support to watch on the downside stands at 5.20, followed by 5.14 (200D SMA). On the topside, first resistance to watch stands at 5.34, followed by 5.40.
  • PLNJPY has been trending higher this week, gradually approaching its 29.50 resistance; next level to watch above that stands at 30. On the downside, first support stands at 29, followed by 28.79 (100D SMA).
  • PLNHUF has been receiving support in the past two days, with the pair currently testing its 78 resistance; a break above that level would open the door for a move up to 78.22. On the downside, first support stands at 77, followed by 77.60.
  • CZKPLN has been retracing lower in the past two days after failing to break through its key ST resistance at 0.1791 this week; a break above that level would open the door for a move up to 0.1834, which represents the pair's all-time high reached in December 2011. On the downside, levels to watch stand at 0.1769 (50D SMA), 0.1760 (100D SMA) and 0.1748 (23.6% Fibo retracement of the 0.1607 – 0.1791 range).

Source: Bloomberg/MNI

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