Chart EUR/PLN Update: Consolidating test of the 4.3450 Fibonacci retracement
Prices have extended February 2025 gains to reach strong resistance at the 4.3450 Fibonacci retracement and congestion around 4.3500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4000 | ** | congestion | S1 | 4.3185 | * | 15 Jul (w) low | |
| R3 | 4.3760 | * | November 2024 (m) high | S2 | 4.3100 | ** | April 2025 (y) high | |
| R2 | 4.3500 | ** | congestion | S3 | 4.3000 | ** | congestion | |
| R1 | 4.3450 | ** | 38.2% ret of 2023-2025 fall | S4 | 4.2800 | * | congestion |
Asterisk denotes strength of level
12:55 BST - Prices have extended February 2025 gains to reach strong resistance at the 4.3450 Fibonacci retracement and congestion around 4.3500. A corrective pullback is developing and daily readings turn mixed and overbought weekly stochastics flatten. But the positive weekly Tension Indicator and rising longer-term charts should limit any downside tests in renewed buying interest above support at the 4.3100 year high of April 2025 and the 4.3185 weekly low of 15 July. Following cautious/corrective trade, fresh gains are looked for. However, a close above 4.3450 - 4.3500 is needed to turn sentiment positive and open up a test of the 4.3760 monthly high of November 2024. Meanwhile, a close below 4.3100 would add weight to sentiment and open up an initial tests of congestion around 4.3000.