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​CEEMEA FX Price Signal Summary: USDRUB Trades Through

EMERGING MARKETS
  • The recent EURHUF pullback is considered corrective. The cross maintains a bullish tone with the focus on $362.46, Jul 26 high. Clearance of this level would open 364.40, Apr 23 high. Initial support has been defined at 355.15, Monday's low.
  • EURPLN remains under pressure. The cross found resistance last week at 4.6480, Sep 30 high and this marked the start of a corrective pullback. Yesterday's sharp sell-off and today's follow through suggests scope for further downside. The focus is on 4.5346, the Sep 13 low. A break of this level would expose 4.5010, Sep 1 low. On the upside, initial resistance is at 4.5729, the 56-day EMA.
  • USDZAR remains below recent highs. The pair maintains a bullish tone following last week's gains. Price has cleared 15.0807, 76.4% of the Aug 20 - Sep 10 downleg. This opens 15.3948 next, Aug 20 high. Support is seen at 14.7001, the 50-day EMA. Dips would be considered corrective.
  • USDTRY is consolidating but holding onto recent gains. The uptrend remains intact following the recent break of key resistance at 8.8008, Jun 2 high. This confirmed a range breakout and a resumption of the long-term uptrend. The move opens 9.0090 next, 1.236 projection of the Sep 10 - 20 - 22 price swing. Firm support is 8.8008.
  • USDRUB bearish activity has resumed with the pair trading below support at 72.2462, Sep 15 low. The breach of this support opens 72.0405, Jun 25 low ahead of key support at 71.5542, Jun 11 low. Key near-term resistance is unchanged at 73.6208, Sep 20 high. A clear breach would open 74.5861, Aug 20 high.
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