MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: Bearish EURPLN Threat Still Present

EMERGING MARKETS
  • EURHUF is trading closer to its recent lows and remains in consolidation mode. Initial support lies at last week’s 369.39 low (Mar 17). Attention is also on support at 368.24, the 50-day EMA. Trend signals still highlight an uptrend, however a clear break of this average would signal scope for a deeper pullback. This would open 362.10, the Jan 24 high. Resistance is seen at 383.17, Mar 14 high. A break would be seen as a short-term bullish development.
  • EURPLN remains above 4.6570, the Mar 16 low. A short-term bearish threat is still present following the recent sharp sell-off from 5.0019, Mar 7 high. Attention is on the the 50-day EMA at 4.6621. This is a key support area and a break would signal scope for a deeper pullback and open 4.6000. Initial firm resistance is seen at 4.8572, the Mar 10 high.
  • USDZAR remains softer following this week’s bearish price action. The move lower has resulted in a break of support at 14.9133, Feb 17 low. This confirms a resumption of the downtrend that started Nov 26 last year and marks an extension of the bearish price sequence of lower lows and lower highs. Note too that moving average studies remain in a bear mode - reinforcing the current trend direction. The focus is on 14.6539 and 14.5639, the Oct 26/22 2021 lows. Key resistance is unchanged at 15.5630, the Mar 2 high. Initial resistance is at 15.1827, high Mar 15.
  • USDTRY is consolidating and trading in a tight range. The outlook remains bullish. The pair recently breached the 14.6462 high from Feb 24. This has opened 15.2645, 61.8% of the Dec 20- 23 sell-off. Support is at 14.4890, the 20-day EMA.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.