Published: 2025-04-04T11:30:04.000Z
Chart EUR/PLN Update: Smart bounce
Senior Technical Strategist
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Cautious trade around 4.1800 has given way to sharp gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3165 | 28 Nov high | S1 | 4.2200 | * | break level | ||
| R3 | 4.3000 | * | break level | S2 | 4.2000 | ** | break level | |
| R2 | 4.2800 | ** | congestion highs, 61.8% ret | S3 | 4.1800 | break level | ||
| R1 | 4.2500 | congestion lows, 50% ret | S4 | 4.1580 | * | 25 Mar (w) low |
Asterisk denotes strength of level
12:15 BST - Cautious trade around 4.1800 has given way to sharp gains, with prices currently trading above strong resistance at 4.2500. Rising daily readings highlight room for continuation towards the 4.2800 congestion highs and Fibonacci retracement. But rising daily stochastics are approaching overbought areas, suggesting any initial tests could give way to consolidation. Meanwhile, support is down to the 4.2200 break level and should underpin any immediate setbacks.