Chart EUR/PLN Update: Consolidating gains - studies improving
Little change, as recent gains give way to extended consolidation within the 4.2800 - 4.2930~ range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3450 | ** | 38.2% ret of 2023-2025 fall | S1 | 4.2800 | * | congestion | |
| R3 | 4.3100 | ** | April 2025 (y) high | S2 | 4.2650~ | ** | break level | |
| R2 | 4.3000 | ** | congestion | S3 | 4.2600 | * | congestion | |
| R1 | 4.2930~ | * | 24 Jun (w) high | S4 | 4.2500 | * | congestion |
Asterisk denotes strength of level
12:30 BST - Little change, as recent gains give way to extended consolidation within the 4.2800 - 4.2930~ range. Overbought daily stochastics are edging lower, suggesting room for further range trade, before the rising daily Tension Indicator and improving weekly charts prompt further gains. A break above 4.2930~ will open up resistance at congestion around 4.3000 and the 4.3100 year high of April 2025. A close above here would improve sentiment and extend February 2025 gains out of the multi-month range pattern, as focus then turns to the 4.3450 Fibonacci retracement. Meanwhile, a close below congestion support at 4.2800, if seen, should give way to consolidation above 4.2650~.