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CEEMEA FX Price Signal Summary: USDZAR Trend Needle Still Points North

EMERGING MARKETS
  • The short-term outlook in EURHUF remains bullish and the latest pullback is considered corrective. Recent gains have defined a key short-term support at 391.55, Aug 12 low. The focus is on key resistance at 416.89, the Jul 7 high, where a breach would confirm a resumption of the primary uptrend. Sub 391.55 levels would threaten the trend. Initial support to watch is at 400.75, the 50-day EMA.
  • EURPLN attention remains on the first important resistance at 4.8088, the Jul 27 high. A break of this level would strengthen the case for bulls and expose 4.8515, the Jul 12 high. Key short-term support has been defined at 4.6528, the Aug 15 low. A move below this level would instead be bearish.
  • USDZAR short-term conditions remain bullish following the latest recovery and bounce from 16.1104, the Aug 11 low. A continuation higher would open 17.3060, the Jul 14 high and a bull trigger. Key support lies at the trendline drawn from the Apr 13 low - it intersects at 16.2076. Initial firm support lies at 16.5744, the 50-day EMA.
  • USDTRY is unchanged but trend conditions remain bullish, following the recent clearance of the 18.00 handle. The continued appreciation signals scope for a climb towards 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 18.0137, is the initial firm support to watch.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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