Chart EUR/PLN Update: Potential for a minor test higher
Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade above 4.2750
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3800 | ** | 14 Jun (m) high | S1 | 4.2750 | congestion | ||
| R3 | 4.3500 | * | break level | S2 | 4.2615 | * | 16 Aug (m) low | |
| R2 | 4.3300 | ** | congestion, range lows | S3 | 4.2470/00 | ** | 28 May YTD low; congestion | |
| R1 | 4.3000 | ** | congestion | S4 | 4.2365 | * | Feb 2020 low |
Asterisk denotes strength of level
12:10 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend choppy trade above 4.2750. Daily readings are mixed/positive, suggesting potential for a move towards congestion resistance at 4.3000. But broader weekly charts are under pressure, suggesting any initial tests could give way to consolidation/selling interest. Meanwhile, a close back below 4.2750 would add weight to sentiment and open up critical support at the 4.2470 current year low of 28 May and congestion around 4.2500. A further close beneath here would turn price action negative and extend March 2022 losses initially towards the 4.2365 low of February 2020.