FxWirePro: EUR/PLN breaks 20-DMA support, good to go short on close below
EUR/PLN extends downside for the 4th consecutive session. Polish Monetary Policy Council left interest rate unchanged at 1.5 percent Wednesday largely in line with expectations. The ECB earlier today maintained status-qu…
EUR/PLN extends downside for the 4th consecutive session.
Polish Monetary Policy Council left interest rate unchanged at 1.5 percent Wednesday largely in line with expectations.
The ECB earlier today maintained status-quo and left its main refinancing rate, deposit rate and marginal lending rates at 0.0%, -0.40% and 0.25% respectively.
The euro edged slightly higher after ECB decision. Focus now on ECB President Mario Draghi's presser to determine the next leg of move for the shared currency.
The pair broke below 20-DMA support at 4.3183, scope for test of 78.6% Fib at 4.2855.
Momentum studies are bearish, RSI is below the 50 mark, Stochs are biased south and MACD line is on the verge of a bearish crossover on signal line.
Major support levels - 4.3085 (61.8% Fib), 4.2959 (Aug 23 low), 4.2855 (78.6% Fib)
