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CEEMEA FX Price Signal Summary - EURHUF Correction Higher Extends

EMERGING MARKETS
  • EURHUF price action is highlighting a short-term reversal. The cross traded higher last week and has started this week on a bullish note. Price is above the 50-day EMA - at 387.32 - and a continuation higher would open 390.00 and 391.94, the Feb 10 high. On the downside, key support and the bear trigger has been defined at 372.38, the Mar 1 low. Initial support is at 377.88, the Mar 9 low.
  • EURPLN is in consolidation mode. The cross remains vulnerable despite the bounce from 4.6620 Mar 1 low. Recent weakness resulted in a break of the 4.7000 handle and this 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 4.7132, the 50-day EMA.
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