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CEEMEA FX Price Signal Summary: USDRUB Bulls Still In Charge

EMERGING MARKETS
  • EURHUF has pulled away from recent highs and the key resistance at 371.99, Nov 23 high remains intact. Today’s move lower has resulted in a print below the 50-day EMA at 365.64. A clear break of this average would signal scope for a deeper pullback and expose 360.99, the Dec 2 low. The bull trigger is 371.91.
  • EURPLN is weaker. The cross breached a key short-term support at 4.5798, the Dec 8 low. This signal potential for a deeper extension with the focus on 4.5699, the Nov 3 low and 4.5603, the Oct 15 low. Moving average studies appear to be shifting to a bear condition reinforcing the current direction. Initial resistance is seen at 4.6165, the 50-day EMA.
  • USDZAR remains in an uptrend and the recent recovery from 15.5007, Dec 27 low and just below the 50-day EMA is encouraging price action for bulls. Further gains would pave the way for a climb towards 16.2651, Dec 15 high and 16.3668, Nov 26 high. 15.5007 marks the key support.
  • USDTRY remains above the Dec 23 low of 10.2512 that also represents a key short-term support handle. The pair is trading near its most recent highs and further gains would open 14.3729, the Dec 11 high. A breach of this level ( a minor resistance) would open 15.2645, 61.8% of the Dec 20- 23 sell-off. The broader trend direction remains up.
  • USDRUB bulls remain in control and the pair is trading just short of last week’s highs. The recent recovery from 73.0926, Dec 27 low and just below the 50-day EMA is a bullish development and 73.0926 marks a key support. The focus is on 75.9190, the Nov 26 high and the near-term bull trigger.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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