Published: 2024-11-01T14:27:47.000Z
Chart EUR/PLN Update: Higher in EUR-driven trade
Senior Technical Strategist
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The anticipated test below congestion support at 4.3300 has not been seen
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4200 | ** | 38.2% ret of Sep-May fall | S1 | 4.3500 | * | break level | |
| R3 | 4.4125 | ** | 17 Jan YTD high | S2 | 4.3300 | ** | congestion | |
| R2 | 4.4000 | ** | break level | S3 | 4.3000 | ** | congestion | |
| R1 | 4.3800 | ** | 14-15 Jun (m) high | S4 | 4.2750 | congestion |
Asterisk denotes strength of level
14:05 GMT - The anticipated test below congestion support at 4.3300 has not been seen, as prices bounce smartly in EUR-driven trade into consolidation above 4.3500. Mixed daily readings are ticking higher once again and broader weekly charts are positive, highlighting room for further strength towards critical resistance at the 4.3800 monthly high of 14-15 June. A close above here would turn sentiment positive and extend May gains initially to resistance at the 4.4000 break level. Meanwhile, support is raised to 4.3500. But a close below 4.3300 would turn sentiment negative and put focus on further congestion around 4.3000.