Published: 2024-11-07T13:04:28.000Z
Chart EUR/PLN Update: Sharp pullback
Senior Technical Strategist
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Consolidation beneath strong resistance at the 4.3800 monthly high of 14-15 June has given way to a sharp fall
| 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 | ** | 15 Jul YTD low; congestion |
Asterisk denotes strength of level
12:50 GMT - Consolidation beneath strong resistance at the 4.3800 monthly high of 14-15 June has given way to a sharp fall, with the break below 4.3500 currently trading just below congestion around 4.3300. Daily studies have turned down, highlighting room for continuation towards further congestion around 4.3000. But rising weekly charts should limit any initial tests in fresh consolidation. Meanwhile, a close back above 4.3500 would prompt consolidation beneath 4.3800.