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CEEMEA FX Price Signal Summary: EURHUF Conditions Remain Bearish

EMERGING MARKETS
  • EURHUF is consolidating but remains bearish. The cross last week and again yesterday, probed support at 342.22, Aug 25 low. A clear break lower would strengthen bearish conditions and open 345.14, Jun 10 low. Key short-term resistance is unchanged at 352.11, Aug 27 high.
  • EURPLN is consolidating but remains heavy following last week's sharp sell-off. The cross recently cleared support at 4.5340, Aug 4 low strengthening bearish conditions. This opens 4.4911, Jul 6 low. Key resistance is unchanged at 4.6017, Jul 20 high. Initial resistance is at 4.5521, the 50-day EMA.
  • USDZAR is firmer this morning. Short-term trend conditions though remain bearish. Price last week breached its 50-day EMA and the base of a bull channel drawn from the Jun 7 low. The break lower strengthens a bearish case and exposes 14.2240 next, Aug 4 low. Key resistance is at 15.3948, Aug 20 high. Initial resistance is at 14.6517, the 20-day EMA.
  • USDTRY traded lower last week and in the process breached former support at 8.2969, Aug 3 low and 8.2860, Jun 11 low signalling scope for weakness towards 8.20 and 8.1397. The latter is the Apr 29 low. Key near-term resistance is seen at 8.5604, Aug 20 high.
  • USDRUB maintains a weaker tone, following last week's extension of the slide from 74.4799, Aug 26 high. Support at 72.6851, Aug 2 low has been probed. It marks a key near-term support and a clear break would open 72.0405, Jun 25 low. Price needs to clear resistance at 74.5861, Aug 20 high to reinstate a bull theme.
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