Chart EUR/PLN Update: Further consolidation
Still little change, as prices extend consolidation above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3500 | * | break level | S1 | 4.2470/00 | ** | 15 Jul YTD low; cong | |
| R3 | 4.3300 | ** | congestion | S2 | 4.2365 | ** | February 2020 low | |
| R2 | 4.3000 | ** | congestion | S3 | 4.2270 | * | late-Jan 2020 (w) low | |
| R1 | 4.2750 | * | congestion | S4 | 4.1985/00 | ** | Jan 2020 (y) low; figure |
Asterisk denotes strength of level
12:20 GMT - Still little change, as prices extend consolidation above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500. Daily readings are edging higher, suggesting potential for a test of congestion around 4.2750. But negative weekly charts should limit any break in renewed selling interest beneath further congestion around 4.3000. Following cautious trade, fresh losses are looked for. A close below 4.2470/00 is needed to add weight to sentiment and confirm continuation of March 2022 losses, initially towards the 4.2365 low of February 2020.