Chart EUR/PLN Update: Sharp pullback from fresh multi-month high
The break above 4.3500 has met renewed selling interest at 4.3650
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4000 | ** | break level | S1 | 4.3300 | ** | congestion | |
| R3 | 4.3800 | ** | 14-15 Jun (m) high | S2 | 4.3000 | ** | congestion | |
| R2 | 4.3650 | * | 1 Nov (w) high | S3 | 4.2750 | congestion | ||
| R1 | 4.3500 | * | break level | S4 | 4.2470/00 | ** | 28 May YTD low; cong |
Asterisk denotes strength of level
12:35 GMT - The break above 4.3500 has met renewed selling interest at 4.3650, with prices falling steadily to trade back below 4.3500. Overbought daily stochastics are turning down, unwinding negative divergence, and the rising daily Tension Indicator is flattening, suggesting room for deeper losses in the coming sessions. Immediate focus is on congestion support at 4.3300. A break will add weight to sentiment and open up further congestion around 4.3000. However, mixed/positive weekly charts should limit any initial tests in fresh consolidation. Meanwhile, any immediate tests above 4.3500 are expected to meet selling interest towards 4.3650.