EUR/PLN stabilized near 4.2430 post-NBP

By FXStreet FXStreet (Edinburgh) – The Polish Zloty keeps appreciating vs. the single currency on Wednesday, with EUR/PLN now looking to consolidate around 4.2430.

EUR/PLN muted post-NBP

The cross is losing ground for the first time after two consecutive advances, testing the 4.2430 area after the Polish central bank has left intact its benchmark rate at 1.5% at today’s monetary policy meeting, broadly in line with market expectations.

“We expect the Polish central bank (NBP) to keep interest rates unchanged at 1.5% for the rest of 2015… However, the pick-up in Polish growth is likely to reduce the feeling of urgency in regard to further rate cuts”, suggested analysts at Danske Bank.

EUR/PLN important levels

At the moment the cross is dropping 0.20% at 4.2425 facing the next support at 4.2261 (low Sep.1) followed by 4.2141 (low Aug.31) and then 4.2125 (low Aug.28). On the other hand, a surpass of 4.2591 (high Sep.2) would aim for 4.2075 (high Aug.25) and finally 4.2190 (high Aug.24).
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Source:: FX Street