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HUF: EURHUF Settles Near 395 Following More Volatile Session Tuesday

HUF

The extension higher in major equity indices has underpinned broader stability across emerging markets, contributing to the reversal lower in EURHUF on Tuesday from session highs. While the spike higher yesterday morning highlights forint vulnerability and ongoing EURHUF bullish technicals, ING note that they expect stagnation at current or lower levels if the global story allows.

  • Overall, a Fibonacci retracement level at 395.73 remains in focus. A clear break of this level could signal scope for an extension towards 399.75, the Mar 12 high and key resistance. On the downside, support to watch lies some way off at 392.41, the 50-day EMA.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

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