Chart EUR/PLN Update: Choppy in range - daily studies under pressure
Anticipated tests lower have found fresh support around 4.2650
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3500 | ** | congestion | S1 | 4.2800 | ** | congestion highs | |
| R3 | 4.3275 | * | break level | S2 | 4.2650 | * | range lows | |
| R2 | 4.3175 | ** | 76.4% ret of Nov-Feb fall | S3 | 4.2500 | congestion lows | ||
| R1 | 4.3000 | * | break level | S4 | 4.2200/55 | * | break level; 9 Apr (w) low |
Asterisk denotes strength of level
14:40 BST - Anticipated tests lower have found fresh support around 4.2650, as intraday studies turn mixed, with prices currently balanced in consolidation above 4.2800. Daily readings continue to track lower and overbought weekly stochastics are flattening, suggesting potential for fresh selling interest and renewed tests lower. A break below 4.2800 will reopen support at 4.2650, with a close beneath here adding weight to sentiment and extending losses towards 4.2500. Meanwhile, resistance remains at 4.3000 and extends to the 4.3175 Fibonacci retracement. A close above this range, not yet seen, will turn sentiment positive and extend February gains initially towards 4.3275.