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Price Signal Summary: EURHUF Cementing Uptrend

CEE FX
  • EURHUF is firmer still early Monday, having touched 360.39. The cross has cleared key resistance at 360.02, 61.8% of the Mar - Jun downleg, cementing the uptrend and turns to 360.78, May 4 high. Support is seen at 354.73, the Jul 9 low.
  • EURPLN had a volatile week but retains the bullish theme. he cross last week breached former resistance at 4.5642, Jun 18 high. This confirms a resumption of the uptrend that started Jun 7 and opens 4.6000 and 4.6224, 76.4% of the Mar 29 - Jun 7 downleg. Firm support is seen at 4.5309, Jul 15 low.
  • The USDZAR outlook remains bullish following strong gains early last week. The current pullback is considered corrective. The pair has breached 14.5180, the Jul 2 high. This reinforces current bullish conditions and attention turns to 15.0000 and 15.0627, 76.4% of the Mar 8 - Jun 7 sell-off. Key short-term support has been defined at 14.1670, Jul 6 low.
  • USDTRY is bouncing, but remains below last week's best levels. Trend conditions remain bullish with attention on 8.8008, Jun 2 high. A break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support is at 8.2860, Jun 11 low. Price is currently testing the 50-day EMA. A clear breach would signal scope for a deeper pullback ahead of 8.2860.
  • USDRUB is rallying, having cleared resistance at 75.3497. Recent gains resulted in the break of the 50-day EMA and a number of retracement levels. This highlights a bullish condition and the focus is on 75.5628, 61.8% of the Apr 7 - Jun 11 sell-off. The Jul 6 low of 73.1595 marks support.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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