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USDPLN Consolidation Continues Ahead of NBP Meeting Next Week

POLAND
  • Consolidation on USDPLN continues in today’s trading session ahead of the NBP meeting on December 8.
  • Market has been pricing in a more aggressive hike from NBP (i.e. 75bps) following positive inflation surprise on Tuesday.
  • ST support to watch on the downside stands sat 4.0440, which corresponds to the 61.8% Fibo retracement of the 3.6170 – 4.3080 range.
  • A break below that level would open the door for a move down to 4.0140 (50DMA).

Source: Bloomberg/MNI

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