USD/PLN retreats below support zone

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In early March, the USD/PLN currency pair spiked and shortly traded above the 4.6000 mark. However, throughout the month, the Polish currency has recovered against the USD, as the USD/PLN has step by step retreated below the 2020 and 2021 high level zone at 4.2150/4.3080.

On March 30, the pair was looking for support in the 50-day simple moving average at 4.1900. At mid-day it appeared that the SMA was failing to keep the pair up.

If the US Dollar continues to lose value, compared to the Polish Zloty, the rate might look for support in the 4.1000 mark, before approaching the 200-day simple moving average near 4.0400. Further below, note the late 2021 high level and 2020 low level zone at 3.9140/3.9440.

On the other hand, a recovery of the USD against the PLN would have to pass the 2020 and 2021 high level zone at 4.2150/4.3080. A move above the resistance zone might encounter resistance at 4.4000 and 4.5000 levels, before approaching the 2022 high level at 4.6250.
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