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CEEMEA FX Price Signal Summary: USDTRY Continues To Defy Gravity

EMERGING MARKETS
  • EURHUF is trading below recent highs but remains bullish. Attention is on key resistance at 366.94, Oct 25 high where a clear break would confirm a resumption of the uptrend and open the major resistance at 369.54, the Apr 1, 2020 high. Key support is at 358.48, Nov 4 low.
  • EURPLN is above former resistance at 4.6480, the Sep 30 high. The breach of this hurdle strengthens a bullish case and exposes 4.6800, Mar 29 high. Initial key support has been established at 4.5699, Nov 3 low. The 20-day EMA at 4.6138 provides initial support.
  • The USDZAR remains bullish and is through resistance at 14.4926, Nov 3 high. The break strengthens the case for bulls and opens 15.6625, Jan 11 high and the next major resistance. The low on Nov 9 of 14.8637 has been defined as a key short-term support.
  • USDTRY remains firm and continues to appreciate. The pair has cleared a number of resistance levels, most notably the 10.00 psychological handle. The focus is on 10.7057 next, the 2.00 projection of the Oct 20 - 25 - 26 price swing. Initial support is 10.0582, yesterday's low.
  • USDRUB remains bullish following the recent break of 72.2547, Nov 3 high. The break confirms a resumption of the upleg that started Oct 26 and note too that the pair is back above its 50-day EMA. This opens 73.6208 next, Sep 20 high. Key short-term support has been defined at 70.5160, Nov 10 low. Initial support is seen at 71.9548, the 50-day EMA.
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