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Instrument: USDPLN
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 4.2058 with take profit at 4.2174.
Bearish Preference:
A sell position is envisaged if the price trades below 4.1856 with take profit at 4.1732.
Fundamentals:
3:00 pm USD ISM Services PMI
Comment:
Most Asian currencies retreated on Monday, while the dollar traded near two-month highs amid uncertainty over whether the Federal Reserve would hike interest rates in June. The reading, coupled with stronger-than-expected print on the Fed’s preferred inflation index earlier in May, presented a hawkish outlook for the central bank in June.
Analysis: SCRUM Team
