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- EUR/PLN to extend its rise on a daily close above the 4.6460 October high - Commerzbank
EUR/PLN to extend its rise on a daily close above the 4.6460 October high - Commerzbank
FXStreet reports that according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, the EUR/PLN pair has overcome the 2009/2021 resistance line and 2020 peak at 4.6359/4.6460, which is bullish.
“EUR/PLN’s advance has now taken it above the 2009-2021 resistance line at 4.6359 and also the October high at 4.6460 which is bullish. Having said that, only a rise above the 4.6460 October peak on a daily chart closing basis would put the 2004 and 2009 highs at 4.9302/4.9422 back on the cards.”
“Upside pressure should retain the upper hand while the March 23 low at 4.5888 underpins on a daily chart closing basis. Below it the late January high can be seen at 4.5637 and the mid-January high at 4.5544.”
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