Chart EUR/PLN Update: Focus on critical support at 4.2470/00
Anticipated losses are meeting buying interest just 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 - Anticipated losses are meeting buying interest just above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500. Oversold daily stochastics could limit any immediate tests in consolidation. But the daily Tension Indicator and broader weekly charts are under pressure, highlighting room for a later break and continuation of March 2022 losses, initially towards the 4.2365 low of February 2020. Meanwhile, a close above congestion resistance at 4.2750 is needed to turn price action neutral, and give way to fresh consolidation beneath further congestion around 4.3000.