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CEEMEA FX Price Signal Summary - EURHUF Key Short-Term Support Remains Exposed

EMERGING MARKETS
  • EURHUF traded sharply higher on Apr 19 and breached the 20-day EMA. The cross has failed to hold on to those gains and has traded lower since Apr 20. Any resumption of the recovery would open 380.17, the 50-day EMA. A clear break of the average is required to signal a stronger reversal. Attention is on the bear trigger at 369.47, the Apr 18 low. Clearance of this level would resume the primary downtrend and open 366.41, the Mar 30 2022 low.
  • EURPLN remains in a downtrend and the cross traded to fresh cycle lows last week. The recent sell-off resulted in a breach of 4.6270, the Dec 26 low, reinforcing bearish conditions and this confirmed a resumption of the broader downtrend. The focus is on 4.5599 next, the May 30 2022 low. Initial firm resistance to watch is 4.6242, the 20-day EMA.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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