Published: 2024-10-29T12:26:36.000Z
Chart EUR/PLN Update: Balanced around 4.3500 - studies rising
Senior Technical Strategist
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Little change, as prices extend cautious trade around 4.3500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4125 | ** | 17 Jan YTD high | S1 | 4.3300 | ** | congestion | |
| R3 | 4.4000 | ** | break level | S2 | 4.3000 | ** | congestion | |
| R2 | 4.3800 | ** | 14-15 Jun (m) high | S3 | 4.2750 | congestion | ||
| R1 | 4.3500 | * | break level | S4 | 4.2470/00 | ** | 28 May YTD low; congestion |
Asterisk denotes strength of level
12:15 BST - Little change, as prices extend cautious trade around 4.3500. Overbought daily stochastics are turning down, highlighting potential for a test beneath here. But the positive daily Tension Indicator and rising weekly charts are expected to limit any losses in fresh buying interest towards congestion support at 4.3300. Following cautious trade, further gains are looked for. A close above 4.3500 will improve price action and open up critical resistance at the 4.3800 monthly high of 14-15 June. Meanwhile, a close below 4.3300 would add weight to sentiment and prompt a pullback towards further congestion around 4.3000.