Free Trial

USDPLN Finds Resistance Slightly Below 23% Fibo

POLAND
  • 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

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.