Published: 2025-03-11T11:50:13.000Z
Chart EUR/PLN Update: Consolidating sharp gains - studies improving
Senior Technical Strategist
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Choppy range trade has given way to a sharp run to 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 - Choppy range trade has given way to a sharp run to resistance at 4.2000, where unwinding overbought intraday studies are prompting a pullback. A test of support at 4.1800 cannot be ruled out, but rising daily readings and improving weekly charts are expected to limit any break in renewed buying interest above 4.1500. Following cautious trade, further gains are looked for. A later break above 4.2000 will improve sentiment and extend gains initially to 4.2150. Beyond here is the 4.2380 monthly high of 3 February.