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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.
EMERGING MARKETS
- USDZAR is currently in a corrective cycle and still trending lower. Price has today breached 14.6351, the 50-day EMA and the base of a bull channel at 14.5912. The channel is drawn off the Jun 7 low. The break lower strengthens a bearish case and exposes 14.2240, Aug 4 low. Key resistance is at 15.3948, Aug 20 high. Initial resistance is at 14.9471, Aug 27 high.
- Trend conditions in EURHUF remain bearish with resistance defined at 352.11, Aug 27 high where a break is required to suggest scope for a stronger short-term recovery. The near-term risk remains bearish and a break of 347.22, Aug 25 low would confirm a resumption of weakness and open 345.14, Jun 10 low.
- EURPLN is trading sharply lower today and has probed support at 4.5340, the Aug 4 low. A clear break of this level would highlight a developing bearish theme and signal scope for weakness towards 4.4911, Jul 6 low. Key resistance is unchanged at 4.6017, Jul 20 high.
- USDTRY continues to trade inside a broader range. A break of 8.8008, Jun 2 high is required to confirm a resumption of the uptrend. Near-term, a bearish risk suggests scope for weakness towards 8.2969, Aug 3 low. A break of this level would be bearish and open 8.1397, Apr 29 low.
- USDRUB support to watch is unchanged at 72.6851 Aug 2 low. A break of this level would expose the 72.00 handle. From a short-term perspective, clearance of 74.5861, Aug 20 high would instead signal a resumption of strength and open the key bull trigger at 75.3497, Jul 8 high.
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.
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