15 Apr 2015
EUR/PLN muted on NBP decision
FXStreet (Edinburgh) - The Polish zloty posted little reaction to the NBP interest rate decision today, with EUR/PLN gyrating around 4.010 so far.
EUR/PLN supported at 4.00
The cross is retreating for the fifth consecutive week so far and almost uninterruptedly since ytd tops around 4.3800 posted in January. The resilience of the domestic currency plus the bearish stance from the euro, aggravated by the ECB’s QE, have increased concerns around the NBP regarding the strength of the PLN, albeit the critical support at 4.00 has offered a strong buffer against selling impetus so far.
Today’s the NBP left unchanged its benchmark rates at 1.50%, broadly in line with market expectations, however the zloty will remain under pressure pending further announces from the central bank.
EUR/PLN important levels
The cross is now losing 0.09% at 4.0104 with the next support at 4.000 (psychological level) ahead of 3.9970 (low Apr.14). On the flip side, a break above 4.0208 (high Apr.14) would aim for 4.0227 (high Apr.13).
EUR/PLN supported at 4.00
The cross is retreating for the fifth consecutive week so far and almost uninterruptedly since ytd tops around 4.3800 posted in January. The resilience of the domestic currency plus the bearish stance from the euro, aggravated by the ECB’s QE, have increased concerns around the NBP regarding the strength of the PLN, albeit the critical support at 4.00 has offered a strong buffer against selling impetus so far.
Today’s the NBP left unchanged its benchmark rates at 1.50%, broadly in line with market expectations, however the zloty will remain under pressure pending further announces from the central bank.
EUR/PLN important levels
The cross is now losing 0.09% at 4.0104 with the next support at 4.000 (psychological level) ahead of 3.9970 (low Apr.14). On the flip side, a break above 4.0208 (high Apr.14) would aim for 4.0227 (high Apr.13).