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CEEMEA FX Price Signal Summary - EURPLN Pullback Exposes Support

EMERGING MARKETS
  • EURHUF is trading closer to its recent highs despite the latest pullback. The recent rally reinforces a bullish theme and has resulted in a break of a number of important resistance points. 395.73, 76.4% of the Mar 12 - May 28 bear leg, has been cleared. This signals scope for an extension towards 399.75 next, the Mar 12 high and a key resistance. Initial firm support is seen at 392.63, the 20-day EMA.
  • EURPLN has traded lower this week and remains softer for now. The move down still appears to be a correction. Support to watch is 4.3160, the 20-day EMA and 4.3058, the 50-day EMA. A clear break of the 50-day average would undermine the bullish theme. For bulls, a reversal higher would refocus attention on 4.3826, the Jun 14 high.

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