CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: Japan Corp Loan Demand Rises - BOJ Survey

MNI BRIEF: Japan June Exports Rise Despite Slow Auto Shipments

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: JAPAN JUNE EXPORTS +5.4% Y/Y; MAY +13.5%

US Treasury Auction Calendar

Broad-based Softening In June Underlying Inflation Metrics

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: EURPLN Recovers From Lows Just Below The 50-Day EMA

EMERGING MARKETS
  • A EURHUF bearish threat appears to have eased following the recovery from recent lows at 394.85, on July 25. This level represents a key short-term support and lies just below the 50-day EMA, at 396.51. A clear break of this support would strengthen the case for bears. A continuation higher would open the 410.00 handle and the key resistance at 416.89, the Jul 6 high and key resistance.
  • EURPLN bearish conditions also appear to be reversing. The strong recovery from Monday’s low of 4.6904, means the 50-day EMA, at 4.7129, has provided support. The move higher signals the end of the bear leg between Jul 12 - 25. A continuation higher would open resistance at 4.8013, the Jul 18 high. Key resistance is at 4.8515, the Jul 12 high. A break of 4.6904 support would reinstate a bearish theme.
  • USDZAR remains below its most recent highs. Short-term pullbacks are still considered corrective and the current uptrend remains intact. This follows the breach, early July, of major resistance at 16.3668, the Nov 26 2021 high. Moving average studies are in a bull mode condition too. A resumption of gains would open the 17.50 handle next. The next firm support is at 16.3237, the May 16 high.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. The recent break of 17.4446, the Jun 22 high, confirmed a resumption of the primary uptrend. Sights are on the 18.00 handle. Key support is unchanged at 16.0956, the Jun 27 low. The 20-day EMA, at 17.4113, is an initial firm support.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

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.