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Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

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  • EURHUF maintains a softer tone as the cross continues to give back some of its recent gains. The cross has traded through support at 364.54, Mar 11 low. This exposes the 50-day EMA at 362.82.
    • On the upside, initial resistance is at 367.05, Tuesday's high. Key resistance is 369.21, Mar 18 high.
  • EURPLN is holding onto recent gains and maintains a bullish tone.
    • The cross has this week confirmed a break of 4.6127, Dec 31 high.
    • Furthermore, resistance at 4.6458, Oct 29 2020 high and a key bull trigger has been probed. A clear break would open 4.6751, 1.00 projection of the Dec 9 - 31 - Feb 10 price swing.
    • First support lies at 4.5837, Mar 23 low.
  • USDZAR maintains a bearish short-term tone following the recent sell-off from 15.5726, Mar 8 high. Scope is seen for a pullback towards 14.3966, Feb 24 low. Initial resistance is seen at 15.1110, Mar 11 high.
  • USDTRY continues to edge higher. Support has been defined at 7.6958, Mar 22 low. Key resistance is at 8.4704, Monday's high. Initial resistance is seen at 8.1778, 61.8% of Monday's volatile range.
  • USDRUB has traded higher this week but has found resistance at 76.6579. Mar 24 high. A break of this level would allow for an extension higher and open 77.7370, 61.8% retracement of the Nov 2020 - Mar downleg. Initial support lies at 75.1322, Tuesday's low.
MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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