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Free AccessCEEMEA FX Price Signal Summary: EURPLN Pullback Extends
- EURHUF has extended the pullback from 371.99, Nov 23 high and probed the 50-day EMA at 362.17. The cross has also bounced off today’s low of 360.99 though. The break lower does highlight potential for a deeper corrective pullback and has opened the 360.00 handle. On the upside, gains above the 20-day EMA at 365.18 would ease bearish pressure. The bull trigger is at 371.99.
- EURPLN remains below last week’s high of 4.7416 on Nov 2 and has also traded lower today. Continued weakness has resulted in a break of the 50-day EMA and this has exposed support at 4.5699, the Nov 3 low. Initial resistance is at 4.6589, the Dec 1 high. A break is required to ease the bearish threat.
- USDZAR trend needle still points north and short-term dips are considered corrective. Attention remains on a climb towards 16.3815, 50.0% of the downleg between Mar 2020 - Jun 2021. A clear breach of this level would signal scope for 16.7193, the Oct 15 2020 high ahead of 17.0823 further out, the 61.8% retracement. Support is seen at 15.6783, the 20-day EMA.
- Tuesday’s break in USDTRY to a fresh all-time high reinforces once again the underlying uptrend. There is a good chance activity remains volatile however further USD appreciation is likely. The 20-day EMA at 11.4662 is an initial support.
- USDRUB remains below recent highs and dips are considered corrective. The pair has recently breached resistance at 75.3497, Jul 8 high. This opens the 76.00 handle and 76.5806, the Apr 22 high. Firm support is seen at 72.7852, the 50-day EMA.
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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.