Ransquawk

The USDPLN exchange rate violated last week’s minimum during yesterday’s session, and the ongoing downward movement was initiated after the rejection of the resistance at 3.7400. As you can see in the weekly chart below, sellers are now grappling with a 20-period average that provides dynamic support. After its defeat, we can expect a drop in key support within 3.6400. If the abovementioned support is tested again in its role, the trapped price will remain in the 1000-pips range. Otherwise, after establishing a new low under 3.6349, the rate may continue south, where after breaking the round level of 3.60, the next significant support is visible only around 3.5130.

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Ransquawk