MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI BRIEF: Aussie Q3 GDP Prints At 0.3% Q/Q

MNI BRIEF: Fed's Goolsbee Sees Rates Down 'Fair Amount' In '25

MNI BRIEF: December Fed Cut 'Absolutely Not' Off Table - Daly

MNI China Daily Summary: Tuesday, Dec 3

MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: AUSTRALIA Q3 GDP +0.3% Q/Q

EZ/UK T-Bill Calendar: Greece, EU Auction on Wednesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: EURHUF Eyes Key Resistance

EMERGING MARKETS
  • EURHUF rallied sharply higher this week and has traded above all relevant retracement points of the downleg between Dec 24 - Jan 13. This signals potential for a climb towards 371.75, the Dec 24 high and the next key resistance. A break would open 374.83, the 2.00 projection of Jan 13 - 24 - Feb 10 price swing. Yesterday’s low of 360.37, marks initial support.
  • EURPLN has this week cleared a number of important resistance levels as the sharp reversal from 4.4826, Feb 16 low extends. Attention is on 4.6805, 76.4% retracement of the Nov 23 - Feb 16 bear cycle. This level was breached temporarily Thursday. A clear breach of it would open 4.7416, the Nov 23 high. Yesterday’s low of 4.5831 is initial support.
  • USDZAR continues to trade above recent lows. The pair has recently challenged a number of key support levels - the Feb 10 low of 14.9815 plus a trendline support drawn from the Jun 7, 2021 low that today intersects at 15.1973. Price has yet to extend lower and reinforce the bearish significance of a breach of these levels. A deeper pullback would strengthen a bearish case and open 14.8637, the Nov 9 low. A key short-term resistance to watch has been defined at 15.7559, the Jan 31 high.
  • USDTRY is firmer despite yesterday’s volatile price action. The pair has breached its range top and this highlights potential for a climb towards 15.2645, 61.8% of the Dec 20- 23 sell-off. Support is at 13.6355, the 20-day EMA.
  • USDRUB remains volatile. A gap higher Thursday and intraday bullish follow through resulted in a high of 88.2670 before selling pressure reversed part of the rally. Trend signals continue to point north and the focus is on 90.00. Watch support at 81.3805, yesterday’s high and the gap low on the daily chart.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.