Chart EUR/PLN Update: Range trade - any pullback to remain limited
The anticipated break above 4.2900 has been pushed back from beneath 4.3000
| Levels | Imp | Comment | Levels | Imp | Comment | |||
| R4 | 4.3200 | ** | multi-month congestion | S1 | 4.2800 | * | congestion | |
| R3 | 4.3100 | ** | April 2025 (y) high | S2 | 4.2600 | * | congestion | |
| R2 | 4.3000 | ** | break level | S3 | 4.2500 | * | congestion | |
| R1 | 4.2900 | * | break level | S4 | 4.2400 | * | break level |
Asterisk denotes strength of level
12:45 BST - The anticipated break above 4.2900 has been pushed back from beneath 4.3000, with prices once again trading within the 4.2800 - 4.2900 range. Overbought daily stochastics are unwinding and the daily Tension Indicator is turning down, highlighting potential for a test of congestion support at 4.2800. However, positive weekly charts and rising longer-term readings should limit scope in renewed buying interest towards congestion support at 4.2600. Meanwhile, resistance remains at 4.2900 and extends to 4.3000. However, a close above critical resistance at the 4.3100 year high of April 2025 is needed, not yet seen, to turn sentiment positive and extend February 2025 gains initially towards 4.3200.