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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EM FX
- HUFJPY has been retracing slightly lower in the last few days after hitting a local high of 36.56 (highest level since Aug 2020). Levels to watch on the downside stands at 36, followed by 35.65 (50D SMA). (Scale *100).
- GBPHUF has received strong support slightly above its 411 level, following the sharp consolidation we have seen since mid March. Key support to watch on the downside stands slightly below 410 (intersection of the 100D SMA and the 38.2% retracement of the 2020/2021 high low range).
- CZKHUF ticked lower yesterday following positive session on Tuesday; the pair is currently trading slightly above its 100D SMA at 13.80. Next key support to watch on the downside stands at 13.60 (200D SMA). On the topside, first resistance stands at 13.91 (50D SMA).
- PLNHUF: Momentum has eased on the pair in recent days following strong rebound in early April as the pair struggles to break through its 79 resistance. Next level to watch on the topside stands at 79.42 (50D SMA). On the downside, first support stands at 78.50.
- EURHUF has retraced higher this week (following the sharp consolidation we have seen since the middle of March) and is currently oscillating around its 200D SMA at 358.60. Levels to watch on the topside stand at 360.50 (100D SMA), followed by 365 (50D SMA).
- LT Chart on EURHUF : The bearish momentum on EURHUF we have seen since the end of March was halted by the 356 support, which corresponds to the 23.6% Fibo retracement of the 2019/2021 high low range. The pair is currently trading slightly below its LT upward trending support line, that may changed to resistance if the bearish retracement on EURHUF continues.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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