EUR/PLN: Bullish Momentum Aiming for 4.4 Resistance

In today’s technical analysis, let’s delve into EUR/PLN (Euro to Polish Zloty), an instrument that may not be everyone’s first choice but has shown strong technical movements recently. We’ve observed that the price is currently bouncing off a local bottom, which is marked in yellow. The recent lows were last tested in September and again at the beginning of October, marking a positive shift that has set a favorable tone for the entire month. Just three days ago, EUR/PLN broke through a key resistance level at 4.33, highlighted in green. This breakout has established a positive sentiment, and our immediate target now lies at 4.4, marked by the orange line.

The outlook remains bullish as long as the price stays above the green horizontal support. Should the price dip below this level, it would introduce a negative bias, though the likelihood of this scenario seems low at the moment. For now, EUR/PLN appears set for another upward swing in the near term, making it one to watch for potential gains.

Source: https://www.axiory.com/analytics/technical-analysis/eur-pln-bullish-momentum-aiming-for-4-4-resistance