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CEEMEA FX Price Signal Summary - EURHUF Bear Trigger Remains Exposed

EMERGING MARKETS
  • USDZAR is on the move again today and is trading lower. The recent bearish extension highlights a stronger reversal and has resulted in a break of key support at 18.1250, the Jun 16 low. This strengthens a short-term bearish theme and signals potential for a move towards 17.4562, the 76.4% retracement of the Jan - Jun bull leg. Initial firm resistance is seen at 18.2565, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. The recent recovery highlights a continued acceleration of the uptrend. The 26.00 objective has been cleared and the focus is on 27.00 next. The 20-day EMA at 26.0303 marks the first key support.

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