MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary - EURPLN Resistance Stays Intact

EMERGING MARKETS
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • Trend conditions in EURHUF remain bullish and the recent pullback is considered corrective. The cross has recently traded to a fresh trend high (Mar 12), maintaining the bullish price sequence of higher highs and higher lows. This signals scope for an extension towards the 400.00 handle and key resistance at 402.45, the Mar 20 2023 high. Initial firm support lies at 394.31, the 20-day EMA. It has been tested but remains intact. A clear break of this support would expose the 50-day EMA at 390.87.
  • EURPLN is in consolidation mode. Trend conditions are unchanged, the outlook remains bearish and recent weakness reinforces this set-up. The cross on Mar 11, cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirmed a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3240, the 50-day EMA. A clear break of the 50-day average would signal scope for a stronger correction and open 4.3564, the Feb 7 high.
174 words

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.
  • Trend conditions in EURHUF remain bullish and the recent pullback is considered corrective. The cross has recently traded to a fresh trend high (Mar 12), maintaining the bullish price sequence of higher highs and higher lows. This signals scope for an extension towards the 400.00 handle and key resistance at 402.45, the Mar 20 2023 high. Initial firm support lies at 394.31, the 20-day EMA. It has been tested but remains intact. A clear break of this support would expose the 50-day EMA at 390.87.
  • EURPLN is in consolidation mode. Trend conditions are unchanged, the outlook remains bearish and recent weakness reinforces this set-up. The cross on Mar 11, cleared key support and the bear trigger at 4.2935, the Dec 13 low. This confirmed a resumption of the downtrend that started in September last year and opens 4.2371, the Feb 14 2020 low. Initial firm resistance is seen at 4.3240, the 50-day EMA. A clear break of the 50-day average would signal scope for a stronger correction and open 4.3564, the Feb 7 high.