Chart EUR/PLN Update: Consolidating - daily studies rising
The anticipated test of congestion resistance at 4.2500 has given way to a pullback and renewed consolidation within the 4.2400 - 4.2500 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.2800 | * | congestion | S1 | 4.2400 | * | break level | |
| R3 | 4.2700 | * | congestion | S2 | 4.2300 | * | congestion | |
| R2 | 4.2600 | * | congestion | S3 | 4.2200 | ** | break level, 76.4% ret | |
| R1 | 4.2500 | * | congestion | S4 | 4.2000 | ** | congestion |
Asterisk denotes strength of level
12:50 BST - The anticipated test of congestion resistance at 4.2500 has given way to a pullback and renewed consolidation within the 4.2400 - 4.2500 range. Daily stochastics and the daily Tension Indicator continue to rise, highlighting room for a retest above 4.2500 towards further congestion around 4.2600. But negative weekly charts should prompt renewed selling interest towards here. Meanwhile, a close below 4.2400 would open up 4.2300. However, a further close below 4.2200 is needed to turn sentiment negative and extend March losses towards support within the 4.1975 - 4.2000 range.