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EURHUF Trades Higher for Sixth Consecutive Session, Approaches 50-Day EMA

HUF
Early greenback strength and euro weakness is pressuring EM FX Thursday morning, sending EURHUF to a fresh intraday high around 381.65. The cross has now traded higher for six consecutive sessions, placing the HUF close to the bottom of the EMEA pile on the day as the local currency marginally underperforms its CE3 peers.
  • Price is approaching the 50-day EMA at 382.11. The close below this average in mid-October marked the beginning of the bearish theme, with recent gains so far considered corrective. A break above this level would therefore mark a stronger reversal and signal scope for an extension higher toward 386.29, the Oct 25 high.

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