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10 Feb 2015
EUR/PLN probing key support at 4.1491 – Commerzbank
FXStreet (Barcelona) - Axel Rudolph of Commerzbank, views that EUR/PLN might move towards 4.1229 if the pair successfully closes below the support at 4.1491 on a daily basis.
Key Quotes
“EUR/PLN currently probes the December low at 4.1491 around which it may stabilise in the course of the next few days.”
“A daily chart close below the 4.1491 level will put the July low at 4.1229 back on the map. Below it lies the June low at 4.0914 which could also be reached in this scenario.”
“We have decided to neutralise our short term view but will retain our medium term bearish forecast while no rise and daily chart close above the January 29 high at 4.2571 is made. If so, we would again have to neutralise this view.”
“Minor resistance can be seen around the 200 day moving average at 4.1954 and more significant resistance at 4.2266/4.2375. It is where the August-to-November highs and the 55 day moving average can all be seen.”
Key Quotes
“EUR/PLN currently probes the December low at 4.1491 around which it may stabilise in the course of the next few days.”
“A daily chart close below the 4.1491 level will put the July low at 4.1229 back on the map. Below it lies the June low at 4.0914 which could also be reached in this scenario.”
“We have decided to neutralise our short term view but will retain our medium term bearish forecast while no rise and daily chart close above the January 29 high at 4.2571 is made. If so, we would again have to neutralise this view.”
“Minor resistance can be seen around the 200 day moving average at 4.1954 and more significant resistance at 4.2266/4.2375. It is where the August-to-November highs and the 55 day moving average can all be seen.”