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CEEMEA FX Price Signal Summary - EURHUF Support Remains Vulnerable

EMERGING MARKETS
  • EURHUF has been unable to hold on to its most recent gains and the cross traded lower last week. Key short-term support at 378.24, the Aug 30 low, has been pierced. A clear break of this level would strengthen a bearish theme. This would open; 376.78, the Jul 25 low and 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg. Firm resistance has been defined at 386.29, the Oct 25 high.
  • EURPLN is unchanged. The cross remains vulnerable following the Sep 12 - Oct 17 sharp sell-off and short-term gains are considered corrective - for now. A move higher is allowing an oversold condition to unwind. The recent break below the 4.5000 handle signals scope for an extension towards 4.3986, the Jul 31 low and the next major support. A break of this level would open 4.3711, the Jun 3 2020 low. Resistance is at 4.5079, the 50-day EMA.
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