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Short

Short EUR/PLN close below 20-DMA

FX_IDC:EURPLN   EURO / POLISH ZLOTY
55 0 5
Polish Monetary Policy Council left interest rate unchanged at 1.5 percent Wednesday largely in line with expectations.

The ECB earlier today maintained status-quo and left its main refinancing rate, deposit rate and marginal lending rates at 0.0%, -0.40% and 0.25% respectively.

The euro             edged slightly higher after ECB decision. Focus now on ECB President Mario Draghi's presser to determine the next leg of move for the shared currency.

The pair broke below 20-DMA support at 4.3183, scope for test of 78.6% Fib at 4.2855.

Momentum studies are bearish , RSI is below the 50 mark, Stochs are biased south and MACD line is on the verge of a bearish crossover on signal line.

Major support levels - 4.3085 (61.8% Fib), 4.2959 (Aug 23 low), 4.2855 (78.6% Fib)

Major resistance levels - 4.3182 (20-DMA), 4.3246 (50% Fib), 4.3337 (5-DMA)

Good to go short on a close below 20-DMA, SL: 4.3250, TP: 4.2959/ 4.2855/ 1.2730
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