Chart EUR/PLN Update: Room for a test lower in volatile trade
Heightened volatility above 4.2750 has given way to a sharp pullback to congestion support at 4.2500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3100 | ** | April 2025 (y) high | S1 | 4.2500 | * | congestion | |
| R3 | 4.3000 | ** | break level | S2 | 4.2400 | * | break level | |
| R2 | 4.2750 | * | break level | S3 | 4.2350 | * | congestion | |
| R1 | 4.2600 | * | congestion | S4 | 4.1975/00 | ** | 61.8% ret; congestion |
Asterisk denotes strength of level
13:20 GMT - Heightened volatility above 4.2750 has given way to a sharp pullback to congestion support at 4.2500, where mixed intraday studies are prompting a bounce. Focus is on congestion resistance at 4.2600. But negative daily readings and a tick lower in overbought weekly stochastics should limit any break in renewed selling interest beneath 4.2750. In the coming sessions, a test back below 4.2500 towards congestion around 4.2350 cannot be ruled out. But the rising weekly Tension Indicator and improving longer-term charts should limit any deeper losses in renewed buying interest above critical support at 4.1975/00.