Published: 2024-11-12T16:29:27.000Z
Chart EUR/PLN Update: Consolidating sharp gains
Senior Technical Strategist
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The anticipated minor test lower has bounced smartly from above congestion support at 4.3000
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4125 | ** | 17 Jan YTD high | S1 | 4.3500 | * | break level | |
| R3 | 4.4000 | ** | break level | S2 | 4.3300 | ** | congestion | |
| R2 | 4.3800 | ** | 14-15 Jun (m) high | S3 | 4.3000 | ** | congestion | |
| R1 | 4.3650 | * | 1 Nov (w) high | S4 | 4.2750 | congestion |
Asterisk denotes strength of level
16:10 GMT - The anticipated minor test lower has bounced smartly from above congestion support at 4.3000, with prices currently consolidating the break above 4.3500. A test beneath here is possible, as intraday studies turn down. But mixed daily and weekly readings should limit any break in fresh buying interest/consolidation above congestion support at 4.3300. Meanwhile, resistance is up to the 4.3800 monthly high of 14-15 June. A close above here is needed to improve price action and prompt a test of stronger resistance within the 4.3000 - 4.3125 area.