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EURHUF Narrows Gap to 50-Day EMA Amid Broader EM FX Strength

HUF
  • The latest downtick for the greenback and associated EM FX strength continues to support the Forint, which sees EURHUF extend on early session declines to over two big figures lower on the day.
  • The cross has been trading below the 20-day EMA today and is now and ~175pips shy of key support at the 50-day EMA.
  • A break of this level would signal scope for a more sustained move lower.

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