FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: EURHUF Support Remains Intact

EMERGING MARKETS
  • The short-term outlook in EURHUF remains bullish. However, a corrective bear leg has resulted in a pull back from recent highs. The cross has traded below both the 20- and 50-day EMAs. A continuation lower would expose the key short-term support at 391.55, Aug 12 low. A resumption of gains would refocus attention on the bull trigger at 416.89, the Jul 7 high.
  • EURPLN is slightly firmer today. Attention remains on the first important resistance at 4.8088, the Jul 27 high. A break of this level would strengthen the case for bulls and expose 4.8515, the Jul 12 high. Key short-term support is unchanged at 4.6528, the Aug 15 low. A move below this level would instead be bearish.
  • USDZAR short-term conditions remain bullish and the latest climb has reinforced this condition. The USD has traded above key resistance at 17.3060, the Jul 14 high and a bull trigger. The break confirms a resumption of the uptrend that started in June 2021 and maintains the bullish price sequence of higher highs and higher lows. The focus is on the 17.50 handle while further out, the break suggests scope for a climb towards 17.9493, 76.4% of the 2020 - 2021 bear leg. Key support has been defined at 16.7102, the Aug 25 low.
  • USDTRY trend conditions remain bullish following recent gains. Scope is seen for a climb towards 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 18.0618, is the initial firm support to watch.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.