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USDPLN Finds Support at 61.8% Fibo

POLAND
  • EURPLN has been consolidating lower in the past week, gradually approaching its ST support at 4.70. Next key level to watch on the downside stands at 4.6490 (200DMA). On the topside, resistance to watch stands at 4.75.
  • USDPLN ticks higher this morning after finding support at the 4.5820 level, which corresponds to the 61.8% Fibo retracement of the 4.15 – 4.85 range. Resistance to watch on the topside stands at 4.6850 (76.4% Fibo). On the downside, support to watch below 4.5820 stands at 4.5150 (50DMA). (See chart)

Source: Bloomberg

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