Published: 2025-10-29T13:07:01.000Z
Chart EUR/PLN Update: Higher in range - background studies under pressure
1
Consolidation around 4.2350 is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3000 | ** | congestion | S1 | 4.2350 | * | congestion | |
| R3 | 4.2800 | ** | congestion | S2 | 4.2200/55 | ** | 50% ret; 9 Apr (w) low | |
| R2 | 4.2700 | * | break level | S3 | 4.1975/00 | ** | 61.8% ret; cong | |
| R1 | 4.2500 | * | congestion | S4 | 4.1800 | * | congestion |
Asterisk denotes strength of level
12:50 GMT - Consolidation around 4.2350 is giving way to a test higher, as intraday studies improve, with prices currently trading around 4.2430. Daily readings are also rising, highlighting potential for a test of congestion resistance at 4.2500. But negative weekly charts are expected to limit any break above here in renewed selling interest towards 4.2700. Following cautious trade, fresh losses are looked for. However, a close below critical support at 4.2200/55 is needed to complete a multi-month distribution pattern beneath 4.3100 and extend April losses towards 4.1975/00.