Chart EUR/PLN Update: Choppy beneath critical resistance
The anticipated pullback from critical resistance at congestion around 4.3000 and the 4.3100 year high of April 2025 is giving way to volatile trade beneath 4.2750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3450 | * | 38.2% ret of 2023-2025 fall | S1 | 4.2600 | * | congestion | |
| R3 | 4.3100 | ** | April 2025 (y) high | S2 | 4.2500 | * | congestion | |
| R2 | 4.3000 | ** | break level | S3 | 4.2400 | * | break level | |
| R1 | 4.2750 | * | break level | S4 | 4.2350 | * | congestion |
Asterisk denotes strength of level
12:20 GMT - The anticipated pullback from critical resistance at congestion around 4.3000 and the 4.3100 year high of April 2025 is giving way to volatile trade beneath 4.2750. Overbought daily stochastics are unwinding, suggesting room for a pullback towards congestion support at 4.2600. But the positive daily Tension Indicator and rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above further congestion around 4.2500. Following cautious/choppy trade, fresh gains are looked for. But a close above 4.3100 is needed to turn sentiment positive and confirm completion of a multi-month accumulation base, as February 2025 gains then focus on the 4.3450 Fibonacci retracement.