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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • EURHUF gains stalled Monday just above the 50-day EMA, currently at 351.66. Moving average studies suggest a downtrend remains intact. A firm support has recently been defined at 346.81, Sep 6 low. A break of this level would confirm a resumption of the bear cycle that started Jul 26. For bulls, a clear breach of the 50-day EMA is required to signal a stronger reversal.
  • EURPLN continues to climb. With short-term bullish conditions continuing to dominate, attention turns to the key resistance at 4.6017, Jul 20 high where a break is required to signal a stronger bullish theme. Initial support has been defined at 4.5346, Sep 13 low with key support at 4.5010, the Sep 1 low.
  • USDZAR short-term trend conditions remain bearish and this week's recovery is considered corrective. A bearish theme follows the recent breach of the base of a bull channel drawn from the Jun 7 low. A resumption of weakness would open 14.0212 next, Jun 25 low and 13.8801, 76.4% of the Jun - Aug rally. Initial resistance is at 14.5723, 38.2% of the Aug 20 - Sep 10 sell-off. try
  • USDTRY is unchanged and consolidating in a tight range. The pair has defined a short-term support at 8.2642, Sep 2 low. Price is testing the 50-day EMA and a resumption of strength would open 8.5604, Aug 20 high and 8.6815, Aug 11 high. A break of 8.2642 is required to confirm a resumption of bearish pressure.
  • USDRUB traded lower yesterday and has resumed the downleg that started Jul 8. This opens 72.0405, Jun 25 low ahead of key support at 71.5542, Jun 11 low. Key near-term resistance has been defined at 73.5309, Sep 8 high.