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EMERGING MARKETS: CEEMEA FX Price Signal Summary -  EURHUF Breaches Resistance

EMERGING MARKETS
  • EURHUF traded sharply higher Monday and in the process, cleared resistance at 396.06, the Aug 16 high. The break of this level highlights a short-term bullish reversal and signals scope for a stronger recovery towards the more important resistance at 399.21, the Aug 5 high. Support to watch is the Aug 21 low of 391.93. Clearance of this level would reinstate a bearish threat and open 390.06, Jul 26 low. Initial support lies at 393.68, the 50-day EMA.
  • EURPLN has not managed to hold on to its recent gains and maintains a softer short-term tone. Initial key support has been defined at 4.2614, the Aug 16 low. Clearance of this level would expose 4.2471, the Jul 15 low. A reversal higher and a break of resistance at 4.3039, the Aug 28 high, would reinstate a bullish theme.

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