EUR/PLN has entered a consolidation phase with corrective pullbacks likely to run into a strong support formed by previous annual highs around 4.54/4.50, as noted by economists at Rabobank.
“It would require a much sharper pullback below 4.40 to abandon the bullish view on EUR/PLN currently supported by the notion that Poland faces a recession.”
“The hikers are building yet another base camp, but in the near-term they will resume their ascend towards the summit at around 5.00.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.