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CEEMEA FX Price Signal Summary - EURHUF Maintains A Softer Tone

EMERGING MARKETS
  • EURHUF maintains a softer tone. The recent retracement has resulted in a move below both the 20- and 50-day EMAs. This signals scope for a continuation towards 381.12, the Mar 13 low. A clear break of this level would expose key support at 372.38, the Mar 1 low. Key resistance has been defined at 402.42, the Mar 20 high. This level is the bull trigger.
  • EURPLN is unchanged and the cross remains in consolidation mode. The cross still appears vulnerable despite the bounce from 4.6620, the Mar 1 low. Weakness in the latter half of February, signals scope for a test of support at 4.6573, the Jan 4 low. Clearance of this level would strengthen a bearish argument and open 4.6270, the Dec 26 low and the next key support. Initial firm resistance to watch is 4.7304, 50.0% of the Feb 14 - Mar 1 bear leg.

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