Published: 2025-05-29T11:45:34.000Z
Chart EUR/PLN Update: Leaning lower
Senior Technical Strategist
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Cautious trade is giving way to a drift lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3000 | * | break level | S1 | 4.2350 | * | congestion | |
| R3 | 4.2800 | ** | congestion | S2 | 4.2255 | * | 9 Apr (w) low | |
| R2 | 4.2650 | * | break level | S3 | 4.2200 | ** | 50% ret of Feb-Apr rally | |
| R1 | 4.2500 | congestion lows | S4 | 4.1975/00 | ** | 61.8% ret; break level |
Asterisk denotes strength of level
12:35 BST - Cautious trade is giving way to a drift lower, with prices currently pressuring congestion support at 4.2350. Daily readings have turned down, and broader weekly charts are mixed/negative, highlighting room for a break to the 4.2200 Fibonacci retracement and the 4.2255 weekly low of 9 April. A close beneath here will add weight to sentiment and extend April losses initially towards the 4.1975 retracement and 4.2000. Meanwhile, resistance remains at congestion around 4.2500. An unexpected close above here will help to stabilise price action and prompt consolidation beneath 4.2650.