Published: 2024-11-18T13:00:50.000Z
Chart EUR/PLN Update: Choppy trade - studies under pressure
Senior Technical Strategist
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The anticipated break below 4.3300 has met support around 4.3100
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3800 | ** | 14-15 Jun (m) high | S1 | 4.3000 | ** | congestion | |
| R3 | 4.3650 | * | 1 Nov (w) high | S2 | 4.2750 | * | congestion | |
| R2 | 4.3500 | * | break level | S3 | 4.2470/00 | ** | 15 Jul YTD low; cong | |
| R1 | 4.3300 | ** | congestion | S4 | 4.2365 | ** | February 2020 low |
Asterisk denotes strength of level
12:40 GMT - The anticipated break below 4.3300 has met support around 4.3100, as oversold intraday studies unwind, with prices currently balanced in cautious trade beneath congestion resistance at 4.3300. A test above here is possible, but negative daily readings and deteriorating weekly charts should prompt fresh selling interest towards resistance at 4.3500. In the coming sessions, cautious trade is expected to give way to further losses, with focus to turn to congestion around 4.3000. A close beneath here would turn sentiment negative and extend November losses towards 4.2750.