EUR/PLN is currently trading at 4.2802, slightly lower from session highs at 4.2852.
- The pair was rejected at 4.2917 on Tuesday, but still hovers near nine-month highs of 4.2939 hit on 22nd Oct
- Converging 10 DMA and Tenkan at 4.2770 on 4 hourly charts seen as strong support for EUR/PLN, breaks below could take the pair to 4.2580 (trendline support)
- On the upside resistance is seen at 4.2852 (seesion highs) ahead of 4.2917 (Oct 27 highs) and further above at 4.2926 (Oct 21 high)
Recommendation: Good to go short only below 4.2770, SL: 4.2920, TP: 4.2580
Resistance Levels:
R1: 4.2852 (session highs)
R2: 4.2917 (Oct 27 highs)
R3: 4.2926 (Oct 21 high)
Support Levels:
S1: 4.2770 (Converging 10 DMA and Tenkan at 4.277 on 4 hourlies)
S2: 4.2580 (trendline support)
S3: 4.2532 (10-Day MA)
