Confusion after polish election in Poland led to depreciation of the Polish currency. EURPLN reached strong resistance at 4.3000 level. Rebound from that level occurred last week and was so dynamic that also the uptrend line was broken. In 5 days falls of 1400 pips and currently reached to the support area of 4.2400. That support is also strengthened by Fibonacci 50% of last upward movement. This should induce corrective rebound, after which falls could be continued. After break below that level the nearest support is located at: 4.2100, and the main target for supply is at 4.1000 level.
Since 4 years EURPLN moves in the regression channel. Upper and lower limits of that channel have been constantly tested: 4.3000 and 4.1000. Right now there is nothing which could indicate that this consolidation in coming to an end.
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