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CEEMEA FX Price Signal Summary - EURPLN Remains Below Resistance

EMERGING MARKETS
  • 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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