Published: 2025-08-22T11:40:29.000Z
Chart EUR/PLN Update: Choppy trade to post limited gains
Senior Technical Strategist
1
Choppy trade has given way to a bounce
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3100 | ** | 16 Apr YTD high | S1 | 4.2500 | * | congestion | |
| R3 | 4.3000 | * | break level | S2 | 4.2350 | * | congestion | |
| R2 | 4.2800 | ** | congestion | S3 | 4.2200/55 | ** | 50% ret; 9 Apr (w) low | |
| R1 | 4.2650 | * | break level | S4 | 4.1975/00 | ** | 61.8% ret; cong |
Asterisk denotes strength of level
12:25 BST - Choppy trade has given way to a bounce, with prices reaching 4.2680 in choppy trade, before settling lower to 4.2625. Overbought intraday studies are unwinding, suggesting room for a test back below 4.2600. But unwinding oversold daily stochastics and the improving daily Tension Indicator are expected to limit scope in renewed buying interest above congestion support at 4.2500. Meanwhile, a break back above 4.2650 will target congestion resistance at 4.2800. But negative weekly charts should limit any initial tests in renewed selling interest/consolidation.