EUR/PLN to advance towards 4.72 on a break above 4.65 – SocGen

EUR/PLN has evolved within a large sideways consolidation since last year. Economists at Société Générale expect the pair to test the 4.65 level with a break above opening up 4.72.

Short-terms supports seen at 4.5350/4.5000

“EUR/PLN is now in the upper band near 4.6500. This is a crucial hurdle. Once the pair overcomes this resistance, an extended up-move could materialize. Next objectives would be at the March peak of 4.6800 and 4.7200.”

“Multi month channel at 4.5340 and August trough of 4.5000 are short-term supports.”