Published: 2024-10-15T11:59:03.000Z
Chart EUR/PLN Update: Consolidating, but prices under pressure
Senior Technical Strategist
2
Little change, as mixed intraday studies keep near-term sentiment cautious
Levels | Imp | Comment | Levels | Imp | Comment | |||
R4 | 4.3800 | ** | 14-15 Jun (m) high | S1 | 4.2750 | congestion | ||
R3 | 4.3500 | * | break level | S2 | 4.2470/00 | ** | 28 May YTD low; congestion | |
R2 | 4.3250/00 | ** | 7 Oct (w) high; congestion | S3 | 4.2365 | * | Feb 2020 low | |
R1 | 4.3000 | ** | congestion | S4 | 4.1985/00 | ** | Jan 2020 (y) low; figure |
Asterisk denotes strength of level
12:10 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and prompt consolidation beneath congestion resistance at 4.3000. A test of here cannot be ruled out. but negative daily readings should limit any break in renewed selling interest. In the coming sessions, lower levels are expected to attract. A break below the 4.2865 low of 14 October will open up congestion support at 4.2750, but mixed/positive weekly charts are expected to limit any immediate tests in fresh range trade. A break, however, would add further weight to sentiment and open up a test of critical support at 4.2470/00. Meanwhile, a close back above congestion resistance at 4.3000 will turn sentiment neutral and prompt consolidation beneath 4.3300.