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CEEMEA FX Price Signal Summary: EURHUF Rebounds From Today’s Intraday Low

EMERGING MARKETS
  • EURHUF traded sharply lower yesterday and has also traded lower today, down to 350.88. This level has provided support though and price has bounced. Despite today’s volatile price action, bearish conditions remain in place. The focus is on 350.00 and the key support at 346.81, the Sep 6, 2021 low. Initial resistance is seen at 358.48, the Nov 4 low and a recent breakout level.
  • EURPLN remains vulnerable following this month's extension of the bear cycle. The cross last week cleared support at 4.5798, the Dec 8 low and Monday breached 4.5392, the Oct 7 low. This opens 4.5010 next, the Sep 1 low. Initial resistance is seen at 4.5792, the 20-day EMA.
  • USDZAR traded lower yesterday and has cleared the 15.50 handle. This suggests scope for a deeper short-term pullback with the focus on 15.1542, the Nov 15 low and 14.8637, the Nov 9 low. Firm short-term resistance is seen at 15.7269, the 20-day EMA.
  • USDTRY dipped lower yesterday but has recovered from levels just below the 20-day EMA. The outlook is bullish and price remains above the Dec 23 low of 10.2512 that also represents a key short-term support handle. Further gains would open 14.3729, the Dec 11 high. A breach of this level would open 15.2645, 61.8% of the Dec 20- 23 sell-off.
  • USDRUB bulls remain in control following last week’s gains and breach of 75.9190, Nov 26 high and a bull trigger. The break strengthens the bullish case and has opened 78.0406, Apr 7 high. The most recent pullback is considered corrective. A key near-term support is seen at the 50-day EMA at 73.9243.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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