Last week the mixing on the Polish zloty ended. In recent days, volatility has remained rather low, and the major currency pairs with PLN have been consolidating. Ultimately, the zloty strengthened slightly against the dollar and pound, in turn it lost against the euro and franc. Let’s check the current technical situation on the main currencies (GBP, EUR, USD, CHF) in PLN terms.
- Polish zloty ends the week in the red
- The zloty weakened against the euro, dollar and franc, and strengthened only to the pound
- US dollar almost at 4 zlotys, will it be more expensive?
| Currency pair | Symbol | Exchange rate | update date |
| Dollar exchange rate | USDPLN | 3.9480 PLN | 27.06.2020, 07:00 |
| Course euro | EURPLN | 4.4423 PLN | 27.06.2020, 07:00 |
| Pound rate | GBPPLN | PLN 4.9423 | 27.06.2020, 07:00 |
| Franc exchange rate | CHFPLN | 4.1468 PLN | 27.06.2020, 07:00 |
The USD / PLN / PLN exchange rate again pushes to the level of PLN 4, will it break out?
Last week the zloty strengthened slightly against the dollar, but just before the weekend the dollar was trimming the zone, so another attack on the psychological resistance barrier at 4 PLN is possible. Technically looking at the USD / PLN chart, the pin bar formation was formed again at the interval W1.
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If the mentioned level of PLN 4 is beaten, the increases may increase. Otherwise, rebounding from the green zone may be a chance for sellers. To sum up, the level of PLN 4 is crucial in the coming days.
– Over the week, the dollar gained against most currencies in the G-10 basket – only the Swedish krona, franc and euro survived. If global moods continue to deteriorate, next week may look similar – comments Konrad Ryczko from DM BOŚ.
The exchange rate of the euro to the zloty defends a wide support zone, time to attack 4.50 PLN?
The euro / zloty exchange rate was in the black this week. Looking at the weekly interval, the scenario we were writing about in the last weekly analysis is slowly being implemented. The technical situation is still more favorable for the European currency, it is possible to attack the resistance at 4.50 PLN.
Recently, EUR / PLN quotations have slowed down declines at the level of the key support zone, in the regions of 4.40 PLN. Looking technically at EURPLN in terms of W1, the area marked in green in the chart below remains crucial, it results from measuring 50% of the last growth wave, 1: 1 system, and previous price responses.
The CHF / PLN franc exchange rate is breaking important resistance
Looking at the W1 time interval, at the franc exchange rate to the zloty recently there was a rebound from important support at 4.05 PLN. For the next 3 weeks the upward direction was continued, which allowed the CHF / PLN currency pair to attack resistance from the lower limit of the Overbalance system, the breakup occurred on Friday, which is why the upward scenario was confirmed.
If at the beginning of the week the rate stays above 4.1850 PLN, a trip to higher levels should be a formality. Only a possible return below may lead to a correction of increases from the last three weeks.
The GBP / PLN exchange rate stays below PLN 5
Last week, our currency lost was able to strengthen in terms of the British pound. The scale of the move is not large, but looking at the weekly interval, the downward sentiment still persists. As long as the exchange rate is below the round level of PLN 5, it seems that the supply side has the advantage.
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