Published: 2024-11-13T15:08:18.000Z
Chart EUR/PLN Update: Choppy in range
Senior Technical Strategist
-
The anticipated test below 4.3500 has met buyers just above congestion support at 4.3300
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.4000 | ** | break level | S1 | 4.3300 | ** | congestion | |
| R3 | 4.3800 | ** | 14-15 Jun (m) high | S2 | 4.3000 | ** | congestion | |
| R2 | 4.3650 | * | 1 Nov (w) high | S3 | 4.2750 | congestion | ||
| R1 | 4.3500 | * | break level | S4 | 4.2470/00 | ** | 15 Jul YTD low; cong |
Asterisk denotes strength of level
14:50 GMT - The anticipated test below 4.3500 has met buyers just above congestion support at 4.3300, with prices currently trading around 4.3430. Intraday studies are under pressure, highlighting potential for a test of 4.3300. But mixed daily and weekly charts should limit any deeper losses in renewed consolidation above congestion around 4.3000. Meanwhile, a close back above 4.3500 would help to improve sentiment. But a further close above the 4.3800 monthly high of 14-15 June would turn price action positive and prompt a test of stronger resistance within the 4.4000 - 4.4125 area.