Chart EUR/PLN Update: Cautious trade - daily studies under pressure
Little change, as mixed intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.2600 | * | break level | S1 | 4.1975/00 | ** | 61.8% ret; cong | |
| R3 | 4.2500 | * | congestion | S2 | 4.1800 | * | congestion | |
| R2 | 4.2350 | * | congestion | S3 | 4.1700 | ** | 76.4% ret of Feb-Apr rally | |
| R1 | 4.2200 | * | congestion | S4 | 4.1600 | * | congestion |
Asterisk denotes strength of level
12:35 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade above minor support at 4.2100. Daily stochastics and the daily Tension Indicator are under pressure, highlighting room for a move down to strong support at the 4.1975 Fibonacci retracement and congestion around 4.2000. However, flat oversold weekly stochastics are expected to limit any initial tests in consolidation, before bearish longer-term readings prompt a break and extend April 2025 losses initially to congestion around 4.1800. Meanwhile, resistance remains at congestion around 4.2200. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 4.2350.