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CEEMEA FX Price Signal Summary: USDTRY Cracks 18.00

EMERGING MARKETS
  • EURHUF has reversed course this week and is holding on to its latest gains. The bounce has defined a key short-term support at 391.55, the Aug 12 low. A continuation higher would signal scope for a test of key resistance at 416.89, the Jul 7 high. A breach of this hurdle would confirm a resumption of the primary uptrend. Sub 391.55 levels are required to threaten the uptrend.
  • EURPLN has recovered from recent lows. A stronger recovery would refocus attention on the first important resistance at 4.8088, the Jul 27 high. Key short-term support has been defined at 4.6528, the Aug 15 low. A break of this support would be bearish.
  • USDZAR conditions have improved for bulls following the latest recovery and bounce from 16.1104, the Aug 11 low. A continuation higher would open 16.9441, the Aug 3 high and a break of this level would expose key resistance at 17.3060, the Jul 14 low. Key support lies at the trendline drawn from the Apr 13 low - it intersects at 16.0491.
  • USDTRY trend conditions remain bullish. The 18.00 handle has finally given way and the pair has resumed its uptrend. This signals scope for a climb towards 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 17.8232 is the initial firm support to watch.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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