Published: 2025-05-09T12:24:49.000Z
Chart EUR/PLN Update: Breaking lower
Senior Technical Strategist
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Cautious trade has given way to anticipated losses
| 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
11:55 BST - Cautious trade has given way to anticipated losses, as intraday studies turn down, with the break below 4.2500 currently finding support around 4.2350. Daily readings are negative and broader weekly charts are also bearish, highlighting room for continuation to the 4.2255 weekly low of 9 April. Just lower is the 4.2200 Fibonacci retracement, but already oversold daily stochastics could limit any initial tests of this range in consolidation. Meanwhile, a close back above 4.2500, if seen, will help to stabilise price action and prompt consolidation beneath 4.2650.