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CEEMEA FX Price Signal Summary: EURPLN Challenges Key Short-Term Resistance

EMERGING MARKETS
  • The EURHUF outlook remains bullish. The cross traded higher Monday and in the process cleared resistance at 399.64, Mar 7 high and a bull trigger. The break also confirms a resumption of the uptrend and attention is on 403.66, 0.764 projection of the Jan 13 - Mar 7 - 30 price swing. On the downside, a break of 387.15, the Jun 6 low is required to signal a potential top. Initial support is at 393.51 the 20-day EMA.
  • EURPLN traded higher Thursday. This week’s gains have resulted in a move above the 50-day EMA, and the extension higher has also resulted in a print above 4.7279, the Apr 26 high and a key resistance. A clear break would strengthen bullish conditions and open 4.7867, the Mar 25 high. On the downside, key short-term support has been defined at 4.5588, the Apr 6 low. This level also represents a bear trigger, where a break would reinstate a bearish theme. Initial support is at 4.6309, the 20-day EMA.
  • USDZAR found support at 15.1685 on Jun 9. The subsequent recovery highlights a bullish reversal and attention is on 16.3237, the May 16 high and a bull trigger. 15.1685 has been defined as a key short-term support, a break is required to reinstate a bearish theme. The 20-day EMA, at 15.7346, offers initial support.
  • USDTRY is consolidating. The pair remains in an uptrend and last week’s climb reinforced bullish conditions. The 17.00 handle has been cleared and this opens 18.00 next ahead of last year's major high at 18.3633, on Dec 20. Firm support lies at 16.6623, the 20-day EMA.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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