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CEEMEA FX Price Signal Summary: USDZAR Resistance Intact For Now

EMERGING MARKETS
  • EURHUF is trading higher and extending this week's strong gains. Attention is on key resistance at 366.94, Oct 25 high where a break would confirm a resumption of the uptrend and open the major resistance at 369.54, the Apr 1, 2020 high. Key support has been defined at 358.48, Nov 4 low.
  • EURPLN bulls remain in charge and attention is on resistance at 4.6480, Sep 30 high. A breach of this hurdle would strengthen a bullish case and expose 4.6800, Mar 29 high. Initial key support has been established at 4.5699, Nov 3 low.
  • USDZAR maintains a bullish tone and rallied sharply higher yesterday. The pair found support this week at the 50-day EMA and the low on Nov 9 of 14.8637 has been defined as a key short-term support handle. A break of resistance at 14.4926, Nov 3 high would strengthen the case for bulls and open 15.5726, Mar 8 high.
  • USDTRY strength has resumed. With a number of projection levels cleared, attention turns to the psychological 10.00 handle and 10.0607, the 1.00 projection of the Oct 20 - 25 - 26 price swing. Key support lies at 9.4157, Oct 26 low.
  • USDRUB late last week arrived at the 50-day EMA, currently at 71.8481. This EMA has thus far provided firm resistance, a clear break would strengthen short-term bullish conditions and open the 73.00 handle. Key support remains 69.2213, Oct 26 low. Initial support lies at 70.3854, Oct 29 low.
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