Chart EUR/PLN Update: Lower in range - studies under pressure
Little change, as prices extend consolidation within the 4.2650 - 4.2800 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3275 | * | break level | S1 | 4.2650 | * | range lows | |
| R3 | 4.3175 | ** | 76.4% ret of Nov-Feb fall | S2 | 4.2500 | congestion lows | ||
| R2 | 4.3000 | * | break level | S3 | 4.2200/55 | * | break level; 9 Apr (w) low | |
| R1 | 4.2800 | ** | congestion | S4 | 4.2000 | ** | break level |
Asterisk denotes strength of level
11:55 BST - Little change, as prices extend consolidation within the 4.2650 - 4.2800 range. Intraday studies have turned lower once again and daily readings are coming under pressure, highlighting room for a break lower in the coming sessions. A close below 4.2650 will add weight to sentiment and open up congestion around 4.2500. A tick lower in overbought weekly stochastics highlights potential for later continuation beneath here towards support at 4.2200 and the 4.2255 weekly low of 9 April. Meanwhile, resistance remains at congestion around 4.2800. A close above here, if seen, will improve sentiment and open up 4.3000, where fresh selling interest is expected to appear.