Chart EUR/PLN Update: Consolidating - background studies under pressure
Little change, as prices extend consolidation above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3500 | * | break level | S1 | 4.2470/00 | ** | 15 Jul YTD low; cong | |
| R3 | 4.3300 | ** | congestion | S2 | 4.2365 | ** | February 2020 low | |
| R2 | 4.3000 | ** | congestion | S3 | 4.2270 | * | late-Jan 2020 (w) low | |
| R1 | 4.2750 | * | congestion | S4 | 4.1985/00 | ** | Jan 2020 (y) low; figure |
Asterisk denotes strength of level
12:20 GMT - Little change, as prices extend consolidation above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500. Daily readings are edging higher, suggesting potential for a test of congestion around 4.2750. But negative weekly charts should limit any break in renewed selling interest beneath further congestion around 4.3000. Following cautious trade, fresh losses are looked for. A close below 4.2470/00 is needed to add weight to sentiment and confirm continuation of March 2022 losses, initially towards the 4.2365 low of February 2020.