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CEEMEA FX Price Signal Summary - EURPLN Trend Condition Remains Bearish

EMERGING MARKETS
  • EURHUF maintains a softer tone with price trading below both the 20- and 50-day EMAs. 381.12, the Mar 13 low, has recently been cleared and this signals scope for weakness towards a key support at 372.38, the Mar 1 low. A break would open the 370.00 handle. Initial resistance is seen at 379.18, the 20-day EMA.
  • EURPLN remains in a downtrend and this week’s break lower confirmed a resumption of this trend. Support at 4.6620, the Mar 1 low, has been cleared and this break ends a lengthy period of consolidation that opens 4.6270, the Dec 26 low and the next key support. Clearance of this level would open the 4.60 handle. Initial firm resistance to watch is 4.6497, the Apr 6 high.

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