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CEEMEA FX Price Signal Summary: USDTRY Defying Gravity Yet Again

EMERGING MARKETS
  • EURHUF maintains a positive tone and the cross continues to appreciate. Price is through resistance at 369.54, Apr 1, 2020 high. The clear break represents an important technical breach and opens 372.90 next, 1.236 projection of the Nov 4 - 12 - 18 price swing. Key short-term support has been defined at 362.04. Nov 18 low.
  • EURPLN started the week on a firm note and is holding onto recent gains. Last week's break of 4.6480, Sep 30 high, strengthens a bullish case. The cross has also traded above 4.6800, Mar 29 high and cleared the 4.70 handle . This has opened 4.7424, the 1.382 projection of the Sep 1 - Sep 30 - Oct 7 price swing. Support is at 4.6379, the 20-day EMA.
  • USDZAR remains bullish following last week's breach of resistance at 14.4926, Nov 3 high. The break strengthens the case for bulls and note that 15.6625, Jan 11 high and a major resistance has also been cleared. The focus is on 16.00 and support is seen at 15.1542, the Nov 15 low.
  • USDTRY continues to defy gravity as the Lira depreciation accelerates once again. The focus is on 13.00 and in terms of a support parameter, the 20-day EMA at 10.1712 marks an initial reference point.
  • USDRUB rallied sharply higher yesterday. Recent gains have exposed resistance at 75.3497, the Jul 8 high where a break would open the 76.00 handle. Support has been defined at 72.3270, Nov 17 low.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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