Published: 13/03/25 at 11:57 UTC
Chart EUR/PLN Update: Extending consolidation - studies improving
Senior Technical Strategist
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Little change, as prices extend cautious trade beneath resistance at 4.2000
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.2500 | ** | break level | S1 | 4.1800 | break level | ||
| R3 | 4.2380 | ** | 3 Feb (m) high | S2 | 4.1500 | * | April 2018 low, congestion | |
| R2 | 4.2150 | * | break level | S3 | 4.1300 | ** | January 2018 (y) low | |
| R1 | 4.2000 | ** | January 2020 (y) low, figure | S4 | 4.1000 | ** | 76.4% ret of 2010-2022 rally |
Asterisk denotes strength of level
11:40 GMT - Little change, as prices extend cautious trade beneath resistance at 4.2000. Overbought daily stochastics are flattening, suggesting potential for further consolidation. But the rising daily Tension Indicator and improving weekly charts highlight room for a later break. Focus will then turn to the 4.2150 break level, with room for continuation towards the 4.2380 monthly high of 3 February. Meanwhile, support remains at 4.1800 and should underpin any immediate tests lower. A close beneath here would add weight to sentiment and open up 4.1500, where fresh consolidation is expected to develop.