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CEEMEA FX Price Signal Summary: EURHUF Is Consolidating Ahead Of Its 50-Day EMA

EMERGING MARKETS
  • EURHUF is unchanged and remains at the lower end of its recent range. The cross for now, is finding support ahead of the 50-day EMA that intersects at 358.21. An ability to remain above the average would highlight potential base building and the possible end of the recent corrective pullback. A strong break lower however would expose 355.15, Oct 4 low.
  • EURPLN is choppy. Bulls remain in charge though and scope is still seen for a climb towards 4.6480, Sep 30 high where a break would strengthen a bullish case and expose 4.6800, Mar 29 high. Weakness below 4.5392, Oct 7 low would alter the picture. Initial firm support is at 4.5699, Nov 3 low.
  • USDZAR maintains a bullish tone despite the move lower from recent highs. The pair has recently cleared resistance at 15.2524, Sep 30 high and 15.3948, Aug 20 high a key resistance. The break strengthens a bullish condition and opens 15.5726 next, the Mar 8 high. The 50-day EMA at 14.8648 marks initial support.
  • The USDTRY outlook is unchanged and remains bullish. The focus is on 9.8797, 3.00 projection of the Sep 22 - 29 - Oct 1 price swing ahead of the 10.00 psychological handle. Key support is unchanged at 9.2050, Oct 20 low. Initial support is at 9.4157, Oct 26 low.
  • USDRUB late last week arrived at the 50-day EMA, at 71.9442. A clear break of the average would strengthen short-term bullish conditions and signal scope for an extension. This would open the 73.00 handle. Key support remains 69.2213, Oct 26 low. Initial support lies at 70.3854, Oct 29 low.
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