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CEEMEA FX Price Signal Summary - USDZAR Bull Trend Extension

EMERGING MARKETS
  • EURHUF is trading higher having found support at 394.07 recently, the Sep 8 low. The recovery signals the end of the recent corrective pullback. The cross has breached resistance at 405.03, the Sep 5 high. The break has strengthened bullish conditions and opened the bull trigger at 416.89, the Jul 7 high. Key support is at 394.07.
  • EURPLN remains above its recent lows. Attention is on the first important resistance at 4.7887/8088, the Aig 24 and Jul 27 highs. A break of this zone would strengthen the case for bulls and expose 4.8515, the Jul 12 high. On the downside, an extension lower would open key short-term support at 4.6528, the Aug 15 low. A move below this level would be bearish.
  • The USDZAR trend condition is bullish and is trading higher and above last week’s highs. The pair has recently traded above key resistance at 17.3060, Jul 14 high. The break highlights a resumption of the uptrend that started in June 2021 and maintains the bullish price sequence of higher highs and higher lows. This has opened 17.9493, 76.4% of the 2020 - 2021 bear leg. Key support has been defined at 16.9818, Tuesday’s low.
  • USDTRY trend conditions remain bullish and the uptrend has resumed. Scope is seen for a climb towards 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 18.1547 is the initial firm support to watch.
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