Chart EUR/PLN Update: Leaning lower
The anticipated test below congestion support at 4.2300 has bounced from just above strong support at 4.2200
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.2800 | * | congestion | S1 | 4.2300 | * | congestion | |
| R3 | 4.2600 | * | congestion | S2 | 4.2200 | ** | break level, 76.4% ret | |
| R2 | 4.2500 | * | congestion | S3 | 4.2000 | ** | congestion | |
| R1 | 4.2400 | * | break level | S4 | 4.1975 | ** | 61.8% ret of 2025 rally |
Asterisk denotes strength of level
14:15 BST - The anticipated test below congestion support at 4.2300 has bounced from just above strong support at 4.2200, with prices currently balanced in cautious trade around 4.2300. Oversold daily stochastics are flattening, suggesting room for consolidation, before the bearish daily Tension Indicator and deteriorating weekly charts prompt further losses. However, a close below 4.2200 is needed to turn sentiment negative and extend March losses towards support within the 4.1975 - 4.2000 range. Meanwhile, resistance remains at 4.2400. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath congestion around 4.2500.