Published: 2025-04-07T11:37:08.000Z
Chart EUR/PLN Update: Extending gains - strong resistance at the 4.3175 Fibonacci retracement
Senior Technical Strategist
-
Consolidation following sharp gains has given way to a fresh run higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3500 | ** | congestion | S1 | 4.2800 | ** | congestion highs | |
| R3 | 4.3275 | * | break level | S2 | 4.2500 | congestion lows | ||
| R2 | 4.3175 | ** | 76.4% ret of Nov-Feb fall | S3 | 4.2200 | * | break level | |
| R1 | 4.3000 | * | break level | S4 | 4.2000 | ** | break level |
Asterisk denotes strength of level
12:15 BST - Consolidation following sharp gains has given way to a fresh run higher, with prices testing above resistance at 4.3000 before settling in cautious trade beneath here. Daily readings are positive and broader weekly charts are rising, highlighting room for further strength in the coming sessions. However, a close above strong resistance at the 4.3175 Fibonacci retracement is needed to improve price action and extend February gains initially towards 4.3275. Meanwhile, support is raised to congestion highs around 4.2800 and extends to 4.2500. This broad area should underpin any immediate break below 4.2800.