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USDPLN Finds Resistance Slightly Below 23% Fibo

  • EURPLN ticks higher this morning after finding support at its 100DMA yesterday; a break below that level would have opened the door for a move down to 4.6180 (200DMA). On the topside, resistance to watch stands at 4.6730 (50DMA), followed by 4.70.
  • USDPLN ticks lower this morning after finding resistance slightly below the 4.4530 level (23.6% Fibo retracement of the 3.9130 – 4.62 range. ST support to watch on the downside stands at 4.40, followed by 4.35 (38.2% Fibo). On the topside, resistance to watch above 4.4530 stands at 4.5270. (see chart).

Source: Bloomberg/MNI

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