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CEEMEA FX Price Signal Summary - EURHUF Approaches Key Resistance

EMERGING MARKETS
  • EURHUF bullish conditions remain intact and this week’s climb has reinforced this theme. The cross has cleared resistance at 390.49, the Jan 30 high. This confirms a resumption of the uptrend that started Nov 14 and paves the way for a climb towards 394.67, the Aug 3 ‘23 high. A clear break of this hurdle would strengthen a bullish theme and signal scope for a climb towards the 400.00 handle. Initial support to watch lies at the 20-day EMA - at 388.16..
  • A bear threat in EURPLN remains present and attention is on 4.2935, the Dec 13 low and key support. Clearance of this level would confirm a resumption of the downtrend that started in September last year. This would open 4.2371, the Feb 14 2020 low. Initial firm resistance has been defined at 4.3445, the 50-day EMA. The key reversal trigger is 4.4124, the Jan 17 high.

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