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CEEMEA FX Price Signal Summary: EURHUF Remains Vulnerable

EMERGING MARKETS
  • Trend conditions in EURHUF remain bearish and the cross has found resistance at 352.11, Aug 27 high where a break is required to suggest scope for a stronger short-term recovery. The near-term risk remains bearish and a break of 347.22, Aug 25 low would confirm a resumption of weakness and open open 345.14, Jun 10 low.
  • EURPLN is still trading in a range. Recent price action has defined key short-term directional parameters at; 4.6017, the Jul 20 high and a key resistance plus 4.5340, the Aug 4 low and key short-term support. A break of either level would provide a clearer directional signal.
  • USDZAR is currently in a corrective cycle and still trending lower. Price is approaching 14.6299, the 50-day EMA and the base of a bull channel at 14.5719. The channel is drawn off the Jun 7 low. A break of the latter would strengthen a bearish case and expose 14.2240, Aug 4 low. Key resistance is at 15.3948, Aug 20 high.
  • USDTRY continues to trade inside a broader range. A break of 8.8008, Jun 2 high is required to confirm a resumption of the uptrend. Near-term, a bearish risk suggests scope for weakness towards 8.2969, Aug 3 low.
  • USDRUB support to watch is unchanged at 72.6851 Aug 2 low. A break of this level would expose the 72.00 handle. From a short-term perspective, clearance of 74.5861, Aug 20 high would signal a resumption of strength and open the key bull trigger at 75.3497, Jul 8 high.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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