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Free AccessCEEMEA FX Price Signal Summary - EURPLN Remains Below Resistance
- EURHUF is trading closer to its recent lows and maintains a softer tone, following the recent sharp reversal from the Dec 12, 420.46 high. The move lower signals scope for a deeper short-term pullback that has exposed 398.30, the Nov 10 low. This level was probed on Dec 26. A clear break would open 394.07, the Sep 8 low. For bulls, a break of 420.46 is required to reinstate a positive theme. Initial resistance is at 406.51, the 50-day EMA.
- EURPLN recently breached support at 4.6528, the Aug 15 low. The break lower confirmed the end of a recent period of consolidation and highlights a resumption of the downtrend. This has opened 4.6262 next, the Jun 21 low, ahead of the 4.6000 handle. The cross has recovered from its most recent lows but remains below resistance. The level to watch is 4.7220, the Dec 6 high. A break of this hurdle is required to suggest potential for a stronger bounce.
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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.