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CEEMEA FX Price Signal Summary: EURHUF Finds Support

EMERGING MARKETS
  • Trend conditions in EURHUF remain bearish however the cross is showing some strength today and possible profit taking after a considerable move lower. Price has traded above the 23.6% retracement of the Jul 26 - Aug 25 sell-off and further gains would open 353.04, the 38.2% level. This week's low of 347.22 marks key short-term support and the bear trigger. A break would resume recent bearish pressure and open 345.14, Jun 10 low.
  • EURPLN is largely unchanged. Recent price action has defined key short-term directional parameters. These are; 4.6017, the Jul 20 high and a key resistance plus 4.5309, the Jul 15 low and key short-term support. A break of either level would provide a clearer directional signal.
  • USDZAR maintains a bullish tone however the pair is currently in a corrective cycle and trending lower. Price is approaching 14.8596, the 20-day EMA. A breach of this potential support would open 14.6299, the 50-day EMA. Key resistance and the bull trigger is at 15.3948, the Aug 20 high.
  • USDTRY remains inside a broader range. A break of 8.8008, Jun 2 high is required to confirm a resumption of the uptrend. Near-term, a bearish risk suggests scope for weakness towards 8.2969, the Aug 3 low.
  • USDRUB support to watch is unchanged at 72.6851 the Aug 2 low. A break of this level would expose the 72.00 handle. From a short-term perspective, the pair has recently moved above resistance at 74.1411, Aug 11 high. An extension would open the bull trigger at 75.3497, Jul 8 high.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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