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CEEMEA FX Price Signal Summary: USDTRY Trend Needle Points North

EMERGING MARKETS
  • EURHUF is consolidating but the outlook remains bullish. The cross traded higher on Jun 13 and in the process cleared resistance at 399.64, Mar 7 high and a bull trigger. The break also confirms a resumption of the uptrend and attention is on 403.66, 0.764 projection of the Jan 13 - Mar 7 - 30 price swing. On the downside, a break of 387.15, the Jun 6 low is required to signal a potential top. Initial support is at 394.13, the 20-day EMA.
  • EURPLN traded higher last Thursday resulting in a print above 4.7279, the Apr 26 high and a key resistance. A clear break would strengthen bullish conditions and open 4.7867, the Mar 25 high. On the downside, key short-term support has been defined at 4.5588, the Apr 6 low. This level also represents a bear trigger, where a break would instead reinstate a bearish theme. Initial support is at 4.6355, the 20-day EMA.
  • USDZAR is unchanged. The pair recently found support at 15.1685 on Jun 9. The subsequent recovery highlights a bullish reversal and attention is on 16.3237, the May 16 high and a bull trigger. 15.1685 has been defined as a key short-term support, a break is required to reinstate a bearish theme. The 20-day EMA, at 15.7616, offers initial support.
  • USDTRY is consolidating but has registered a fresh cycle high today, at 17.3856. The pair remains in an uptrend and recent gains reinforced bullish conditions. The 17.00 handle has been cleared and this opens 18.00 next ahead of last year's major high at 18.3633, on Dec 20. Firm support lies at 16.7260, the 20-day EMA.
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