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CEEMEA FX Price Signal Summary: USDTRY Takes Off Once Again

EMERGING MARKETS
  • EURHUF 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 has been defined at 358.48, Nov 4 low.
  • EURPLN has traded higher today and is above former resistance at 4.6480, the Sep 30 high. A clear breach of this hurdle would strengthen a bullish case and expose 4.6800, Mar 29 high. Initial key support has been established at 4.5699, Nov 3 low.
  • The USDZAR outlook is unchanged and remains bullish despite pulling back from recent highs. The pair found support last week at the 50-day EMA and the low on Nov 9 of 14.8637 has been defined as a key short-term support. A break of resistance at 14.4926, Nov 3 high would strengthen the case for bulls and open 15.5726, Mar 8 high.
  • 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 10.3071, the 1.382 projection of the Oct 20 - 25 - 26 price swing. The 1.50 projection is at 10.3832. Initial firm support is seen at 9.6384, the 20-day EMA.
  • USDRUB traded sharply higher Friday above the recent high 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 has opened 73.6208 next, the Sep 20 high. Key short-term support has been defined at 70.5160, Nov 10 low.
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