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FXStreet (Edinburgh) - The Polish zloty is now appreciating vs. the single currency, dragging EUR/PLN to visit levels below the key support at 4.00 on Monday.
EUR/PLN softer post-data
The Polish currency is gaining further traction after positive results in Poland showed retail sales expanding at an annual pace of 3.0% and reverting the previous 1.3% drop. In addition, Industrial Output rose 8.8% on a year to April vs. March’s 4.9% and Producer Prices contracted 2.4% YoY in April vs. the previous contraction of 2.7%.
The cross is trading in the vicinity of the critical support at 4.00, levels last seen in January 2011.
EUR/PLN key levels
At the moment the cross is losing 0.94% at 3.9896 with the next support at 3.9800 (psychological level). On the flip side, a break above 4.0377 (high Apr.17) would open the door to 4.0432 (high Apr.16).
