Going Nowhere Fast?

While rangebound, the Polish zloty is currently at key levels. Making a firm push through the PLN3.8600/EUR area is key to posting further gains, which could take it as far as the February high of PLN3.7465/EUR. On the downside, eighteen-month support comes in at PLN4.0000/EUR. It would take a lot of bad news to spark a decline through here, and thenceforth to PLN4.1000/EUR or PLN4.3000/EUR.

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