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Tech Focus: CEEMEA FX Price Signal Summary: Euro Is Soft Versus PLN And HUF

EMERGING MARKETS
  • EURHUF recent gains failed to hold above 350.00 and the cross has resumed its downtrend. Attention is on 345.00 ahead of 343.65, Jul 31 2020 low. Initial resistance is at 353.15, Dec 14, 2020 low and the recent key breakout level.
  • EURPLN maintains a bearish tone and has also resumed its downtrend. The cross has cleared a key support at 4.4709, Feb 10 low and this opens the 4.4500 handle. For bulls, initial resistance is at 4.5148, the 20-day EMA.
  • USDZAR maintains a bearish theme. The recent move through support at 14.1484, Apr 29 low opens 13.6235, the 1.382 Fibonacci projection of the Apr - Jun - Aug 2020 price swing. Key resistance has been defined at 14.5434, May 4 high. Initial firm resistance however is at 14.1989, May 13 high.
  • USDTRY traded higher Friday, clearing a host of resistance levels that had capped gains between April 22 and May 14. The pair has also traded above 8.5793, Nov 6, 2020 high. This confirms a resumption of the broader uptrend and signals scope for a fresh bullish phase and all-time highs. The focus is on 8.6271 next, 1.618 projection of the Feb 16 - Mar 9 - Mar 19 price swing
  • The USDRUB outlook remains bearish following recent weakness and the broader reversal from the Apr 7 high. The focus is on 73.00 and 72.5385, Mar 16 low. Resistance is at 74.6670, May 12 high.
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