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USDPLN approaching 76.4% Fibo Support

POLAND
  • EURPLN has been consolidating lower in the past week, falling below its 50DMA and gradually approaching its ST support at 4.70. Key level to watch on the downside stands at 4.6570 (200DMA). On the topside, resistance to watch above 4.7350 (50DMA) stands at 4.75.
  • USDPLN continues to retrace lower this morning, gradually approaching its 4.6890 support, which corresponds to the 76.4%Fibo retracement of the 4.1490 – 4.8560 range. Next ST support to watch on the downside stands at 4.6460 (50DMA). On the topside, resistance to watch stands at 4.80.

Source: Bloomberg

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