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CEEMEA FX Price Signal Summary: USDTRY Trades Through Resistance

EMERGING MARKETS
  • EURHUF maintains a firmer tone. The cross recovered last week from 374.42, the May 4 low. This has resulted in a climb above resistance at 382.12, the Apr 7 high. The move above this level strengthens a bullish theme and signals scope for a move towards 386.95, 61.8% of the bear cycle between Mar 7 - 30. Key support has been defined at 366.41, the Mar 30 low. Initial support lies at 373.83 the 50-day EMA.
  • EURPLN is off its recent lows but remains inside its current range. The outlook is positive though. The cross confirmed a bullish breakout - on Apr 26 - of its recent tight range. The move higher is a positive development and eases a recent bearish threat. An extension of gains would expose the key short-term resistance at 4.7867, the Mar 25 high. Clearance of this level would strengthen the case for bulls. On the downside, key support has been defined at 4.5588, the Apr 6 low. A break would reinstate a bearish threat.
  • USDZAR maintains a bullish tone and the strong recovery last week from 15.4112, the May 4 low, reinforces this theme. 15.4112 represents the key support. The pair is trading higher and sights are set on 16.3668, the Nov 26, 2021 high and the next major resistance.
  • USDTRY maintains a firmer tone. The pair is trading higher today and has breached resistance at 14.9932, the Mar 11 high. Price is also above the 15.00 handle. Scope is seen for a climb towards 15.2645, 61.8% of the Dec 20 - 23 sell-off. Initial support lies at 14.7189, the May 4 low.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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