EUR/PLN will continue its rally towards a major uptrend resistan

The pair will continue its rally towards a major uptrend resistance line. Poland's unemployment rate grew for the third consecutive month to 5.5%. Though its part of the country’s unemployment cycle, the increase in M3 Money Supply is threatening to weaken the Polish zloty. M3 includes coins and notes in circulation and other assets that are convertible to cash, and short-term and long-term bank deposits. The increase in M3 for the month of March 2020 is 9.3%, higher than its previous record of 8.3%. It is also higher than the 8.8% increase forecasted by analysts. This will be catastrophic for its already high inflation rate at 4.4%. Meanwhile, the Eurozone recorded a slump in M3 at 5.0% from 5.6% in February, also lower from 5.5% expectations. The control in money supply will be good for its inflation data and for its economy. The weak economy will also weaken the political stance of Poland in the European Union.