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CEEMEA FX Price Signal Summary: EURHUF Is Approaching Key Resistance

EMERGING MARKETS
  • EURHUF has started the week on a firm note. The cross has cleared 361.24, Sep 30 high and sights are set on the key resistance at 362.46, Jul 26 high. Clearance of this level would reinforce bullish conditions and open 364.40, Apr 23 high. Initial firm support has been defined at 355.15, Oct 4 low.
  • EURPLN found support last week at 4.5392 on Oct 7. The sharp reversal signals the end of recent bearish pressure and 4.5392 has been defined as a key short-term pivot support. Attention is on 4.6480, Sep 30 high where a break would strengthen a bullish case and open 4.6800, Mar 29 high.
  • USDZAR remains below recent highs. The trend outlook however is bullish following the recovery from 14.0639, Sep 10 low. . Price has recently cleared 15.0807, 76.4% of the Aug 20 - Sep 10 downleg. This opens 15.3948 next, Aug 20 high. Support is seen at 14.7186, the 50-day EMA. Dips are considered corrective.
  • The USDTRY uptrend remains intact and the pair is trading at recent highs. A bullish theme follows the recent break of key resistance at 8.8008, Jun 2 high. This confirmed an important range breakout and a resumption of the long-term uptrend. The move opens 9.0090 next, 1.236 projection of the Sep 10 - 20 - 22 price swing. Firm support is 8.8008.
  • USDRUB remains soft following last week's sell-off. Attention is on 71.5542, the Jun 11 low. A break would expose 71.0838, 76.4% retracement of the Jun - Nov rally. Key near-term resistance is unchanged at 73.6208, Sep 20 high. Initial resistance is at 72.6106, the 20-day EMA.
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