Published: 2025-05-12T13:04:17.000Z
Chart EUR/PLN Update: Gains to remain limited
Senior Technical Strategist
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Cautious trade above the 4.2255 weekly low of 9 April is giving way to a corrective bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3000 | * | break level | S1 | 4.2255 | * | 9 Apr (w) low | |
| R3 | 4.2800 | ** | congestion | S2 | 4.2200 | ** | 50% ret of Feb-Apr rally | |
| R2 | 4.2650 | * | range lows | S3 | 4.2000 | ** | break level | |
| R1 | 4.2500 | congestion lows | S4 | 4.1975 | ** | 61.8% ret of Feb-Apr rally |
Asterisk denotes strength of level
13:55 BST - Cautious trade above the 4.2255 weekly low of 9 April is giving way to a corrective bounce, as oversold intraday studies unwind, with prices currently trading around 4.2450. Oversold daily stochastics are also flattening, suggesting room for a test of resistance at 4.2500. But the negative daily Tension Indicator and mixed/negative weekly charts are expected to limit any break in renewed selling interest beneath 4.2650. Following corrective trade, fresh losses are looked for. A close below 4.2255 will add weight to sentiment and extend losses below the 4.2200 Fibonacci retracement towards 4.2000.