EUR/PLN 4H Chart: Broadening Rising Wedge

The EUR/PLN currency pair is reaching new highs within the boundaries of the broadening rising wedge pattern. The last important resistance to cross was represented by the monthly R1 at 4.2375. Judging by the signals from the majority of technical indicators, the single European currency is going to outperform further, as the pattern's confirmation seems to be inevitable from their point of view. A breach of the upper edge will most likely trigger a rally up to the next monthly supply at 4.3190, followed by a weekly R3 at 4.3623. However, market participants are remaining bearish (74%) on the Euro, and they may attempt to hold EUR/PLN from crossing the pattern's resistance at 4.2525.