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CEEMEA FX Price Signal Summary - EURHUF Bear Leg Extends

EMERGING MARKETS
  • The current pullback EURHUF has resulted in a move below both the 20- and 50-day EMAs. With the pair trading lower again today, scope is seen for a continuation towards 381.12, the Mar 13 low. A clear break of this level would expose key support at 372.38, the Mar 1 low. Key resistance has been defined at 402.42, the Mar 20 high. This level is the bull trigger.
  • EURPLN remains in a broad consolidation mode. However, the cross still appears vulnerable despite the bounce from 4.6620, the Mar 1 low. Recent weakness signals scope for a test of support at 4.6573, the Jan 4 low. Clearance of this level would strengthen a bearish argument and open 4.6270, the Dec 26 low and the next key support. Initial firm resistance to watch is 4.7304, 50.0% of the Feb 14 - Mar 1 bear leg.

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