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CEEMEA FX Price Signal Summary - EURPLN Cracks Key Short-Term Support

EMERGING MARKETS
  • EURHUF is unchanged and the cross maintains a softer tone with price remaining below both the 20- and 50-day EMAs. Note that 381.12, the Mar 13 low, has recently been cleared and this signals scope for weakness towards a key support at 372.38, the Mar 1 low. A break would open the 370.00 handle. Key resistance has been defined at 402.45, the Mar 20 high. This level is the bull trigger. Initial resistance is seen at 379.77, the 20-day EMA.
  • EURPLN remains in a downtrend and yesterday's break lower confirmed a resumption of this trend. The cross has resumed its slide today. Support at 4.6620, the Mar 1 low, has been cleared and this break ends a lengthy period of consolidation that opens 4.6270, the Dec 26 low and the next key support. Clearance of this level would open the 4.60 handle. Initial firm resistance to watch is 4.6497, the Apr 6 high.
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