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EMERGING MARKETS: CEEMEA FX Price Signal Summary - EURPLN Resistance Is Intact

EMERGING MARKETS
  • EURHUF is unchanged and the cross for now, remains above its Aug 21 low of 391.93. For bears, a move below this level is required to reinstate a bearish threat. This would open 390.06 next, the Jul 26 low. Initial resistance to watch is 396.06, the Aug 16 high. Clearance of this level would instead highlight a bullish reversal and expose the more important resistance at 399.21, the Aug 5 high.
  • EURPLN traded higher on Aug 28 and this resulted in a break of resistance at 4.2908, the Aug 21 high, and a move through the 50-day EMA. The cross 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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