Chart EUR/PLN Update: Choppy beneath strong resistance
The anticipated extension of February 2025 gains beyond strong resistance at the 4.3450 Fibonacci retracement and congestion around 4.3500 has not been seen
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4000 | ** | congestion | S1 | 4.3185 | * | 15 Jul (w) low | |
| R3 | 4.3760 | * | November 2024 (m) high | S2 | 4.3100 | ** | April 2025 (y) high | |
| R2 | 4.3500 | ** | congestion | S3 | 4.3000 | ** | congestion | |
| R1 | 4.3450 | ** | 38.2% ret of 2023-2025 fall | S4 | 4.2800 | * | congestion |
Asterisk denotes strength of level
12:50 BST - The anticipated extension of February 2025 gains beyond strong resistance at the 4.3450 Fibonacci retracement and congestion around 4.3500 has not been seen, as daily studies turn down. A corrective pullback is putting focus on support at the 4.3100 year high of April 2025 and the 4.3185 weekly low of 15 July. However, positive weekly charts should limit any break in renewed buying interest above congestion around 4.3000. Meanwhile, a close above 4.3450 - 4.3500 would turn sentiment positive and open up a test of the 4.3760 monthly high of November 2024.