August 03, 2022 11:42 GMT
- EURHUF has drifted lower since the beginning of the week, breaking and closing below the 400 level. 394.85, the Jul25 low, remains key support going forward, and a break below would be bearish. Any return higher would open the 410.00 handle and the key resistance at 416.89, the Jul 6 high.
- EURPLN is testing the mid-July lows at 4.6905 and a solid break below here would be a bearish development. Further losses would put the cross at the lowest level since late June and open the next downside level at 4.6802. Any return higher would open key resistance at 4.8515, the Jul 12 high.
- USDZAR has bounced ahead of support, with the 50-DMA of 16.2881 the key downside level on the pullback from July’s high. For now, the broader 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.
- 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 next, ahead of 18.3633, the Dec 20 2021 high. Key support is unchanged at 16.0956, the Jun 27 low. The 20-day EMA, at 17.4564, is an initial firm support.