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CEEMEA FX Price Signal Summary: USDZAR Remains Above The 50-Day EMA

EMERGING MARKETS
  • EURHUF continues to drift lower. The cross has breached support around the 50-day EMA, which intersects at 397.37. A clear break of the EMA would signal potential for a deeper retracement and open the 390.00 handle. The broader uptrend remains intact and dips are still considered corrective - for now. Any reversal higher would open 408.51, the Jul 28 high and further out, the key resistance at 416.89, the Jul 6 high.
  • EURPLN has this week tested the mid-July lows at 4.6904. A solid break of this level would strengthen short-term bearish conditions and open the next downside level at 4.6713, 61.8% of the May 30 - Jul 12 bull phase. The move lower since Jul 12 is considered corrective. A resumption of gains would refocus attention on the first important resistance at 4.8088, the Jul 27 high.
  • USDZAR has recovered from 16.3906, the Jul 29 high. The bounce means that the 50-day EMA continues to provide support - the average intersects at 16.4172. Moving average studies still highlight a broader uptrend and recent weakness is considered corrective. A continuation higher would open 17.3060, the Jul 14 high. This level also represents the bull trigger. On the downside, a clear break of the 50-day EMA would highlight a bearish threat.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. The 18.00 handle has been pierced this week, a clear break would strengthen the bullish theme and open 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 17.6678, is the initial firm support to watch.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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