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USDPLN Breaking Above 61.8% Fibo Resistance

POLAND
  • USDPLN has been retracing sharply higher in the past few days, breaking above its 4.0440 resistance, which corresponds to the 61.8% Fibo retracement of the 3.6170 – 4.308 range. Next resistance to watch stands at 4.10. On the downside, first support to watch below 4.0440 stands at 4.0160.
  • EURPLN continues to trend higher this morning, gradually approaching its 4.65 resistance; a break above that level would open the door for a move up to 4.68. On the downside, first support stands at 4.6060, followed by 4.59 (50DMA).
  • Poland 10Y yield has stabilized at around 2.88% in the past week; key resistance to watch on the topside stands at 3%. On the downside, first support stands at 2.80%, followed by 2.77%.

Source: Bloomberg/MNI

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