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FxWirePro: USD/PLN hits fresh 13-year highs of 4.1198, further upside could see 4.2850

PLN is the worst performing currency in the EM space and weakness is set to continue on global volatility and commodities rout.

  • USD/PLN continued its way up reaching 4.1198 levels, the highest since March of 2003, scope rises for test of 4.2850 barrier.
     
  • Momentum still with the bulls, RSI and Stochs at overbought levels, but no signs of weakness.
     
  • Immediate support lies at 4.0536 (5-DMA), while resistance is located at 4.1300 (Apr 2002 highs).

Recommendation: Use any dips around 4.10 as buying opportunities, weakness only below 4.00, Target 4.1300/4.1557 

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