Chart EUR/PLN Update: Pressuring critical resistance
Cautious trade has given way to anticipated gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3760 | * | November 2024 high | S1 | 4.2750 | * | break level | |
| R3 | 4.3450 | * | 38.2% ret of 2023-2025 fall | S2 | 4.2600 | * | congestion | |
| R2 | 4.3100 | ** | April 2025 (y) high | S3 | 4.2500 | * | congestion | |
| R1 | 4.3000 | ** | break level | S4 | 4.2400 | * | break level |
Asterisk denotes strength of level
12:50 GMT - Cautious trade has given way to anticipated gains, with buying interest pushing prices sharply higher to strong resistance at 4.3000. Overbought daily stochastics are flattening, suggesting room for consolidation beneath here. But the daily Tension Indicator is rising and broader weekly charts are positive, highlighting room for further strength in the coming sessions. However, a close above the 4.3100 year high of April 2025 is needed to turn sentiment positive confirm completion of a multi-month accumulation base, as February 2025 gains then focus on the 4.3450 Fibonacci retracement. Meanwhile, support is at the 4.2750 break level. A close beneath here would turn sentiment neutral once again and give way to fresh consolidation above congestion support at 4.2500.