Published: 2025-07-30T13:21:10.000Z
Chart EUR/PLN Update: Edging higher
Senior Technical Strategist
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The anticipated test of congestion resistance at 4.2800 is giving way to choppy trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3200 | * | break level | S1 | 4.2650 | * | break level | |
| R3 | 4.3100 | ** | 16 Apr YTD high | S2 | 4.2500 | * | congestion | |
| R2 | 4.3000 | * | break level | S3 | 4.2350 | * | congestion | |
| R1 | 4.2800 | ** | congestion | S4 | 4.2200/55 | ** | 50% ret; 9 Apr (w) low |
Asterisk denotes strength of level
42050 BST - The anticipated test of congestion resistance at 4.2800 is giving way to choppy trade, as intraday studies turn down, with prices currently balanced around 4.2770. Daily readings continue to strengthen and mixed weekly charts are showing signs of improvement, highlighting room for a test above here towards 4.3000. Critical resistance is at the 4.3100 current year high of 16 April. But daily stochastics are approaching overbought areas, suggesting any initial tests could be limited in consolidation. Meanwhile, a break below 4.2650, if seen, will turn sentiment neutral and prompt consolidation above 4.2500.