EUR/PLN - still within a trend channel

The EUR/PLN currency pair has been moving within a trend channel since the end of March. The pair has tested the lower limit of the channel as a potential support area and also has tested the upper limit as potential resistance.

Last week it has been defended so the market may move to the next potential support at 4,36 or at the line drawn through the bottoms.

It seems that only a breakout of the upper limit of the channel may change the sentiment from bearish to bullish.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

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