DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: USDTRY Trades Through The 50-Day EMA

EMERGING MARKETS
  • EURHUF remains below recent highs, the move is considered a correction though. The cross on Jul 26 confirmed a clear break of 360.02, 61.8% of the Mar - Jun downleg. This opens 363.53, the 76.4% retracement and 364.40, Apr 23 high. Support is at 356.90, Jul 22 low.
  • EURPLN remains below resistance, the outlook though is bullish. The breach mid-July of former resistance at 4.5642, Jun 18 high confirmed a resumption of the uptrend that started Jun 7 and opens 4.6000 (tested recently) and 4.6224, 76.4% of the Mar 29 - Jun 7 downleg. Firm support is seen at 4.5309, Jul 15 low.
  • USDZAR is facing some short-term selling pressure. The move lower is considered corrective and a bullish outlook remains intact. The pair recently breached 14.5180, Jul 2 high to confirm a resumption of bullish conditions and open 15.00 and 15.0627, 76.4% of the Mar 8 - Jun 7 sell-off. 15.1000 also represents a key resistance, the Mar 26 high. Firm support is at 14.3361, Jul 16 low.
  • USDTRY has moved below the 50-day EMA as the current corrective pullback extends. Trend conditions are bullish however with the focus on 8.8008, Jun 2 high. A break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support is unchanged at 8.2860, Jun 11 low.
  • USDRUB continues to pull away from recent highs. The move lower is still considered a correction however with support at 73.1595, Jul 6 low breached, scope exists for a deeper pullback towards the 72.00 handle. The bull trigger is at 75.3497, Jul 8 high. Initial resistance is at 74.2742, Jul 26 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.