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Tech Focus: CEEMEA FX Price Signal Summary: USDRUB Firmer Off Recent Lows

EMERGING MARKETS
  • In the CEE region, EURPLN is consolidating and remains below the 4.5500 level. The outlook is bearish and recent gains are likely a correction.
    • Key support is unchanged at 4.4946, Jan 7 low and a bear trigger.
    • The resistance to watch is 4.5581, 50.0% of the Dec 31 - Jan 7 downleg. A break would represent a bullish short-term development.
  • EURHUF remains soft and has today tested key support at 356.53, Jan 7 low. A clear break would open 356.00, 76.4% of the Dec 14 - 31 rally, and below.
  • USDZAR has managed to find support at 14.7667, Jan 21 low and just below 14.7772 level, 76.4% of the Dec - Jan rally.
    • The pair would need to break above 15.3800, Jan 18 high to expose key short-term resistance at 15.6625, Jan 11 high.
  • USDTRY is unchanged and consolidating just below the 20-day EMA. 7.5426, Jan 18 high and 7.2406, Jan 7 low are the near-term directional triggers.
  • USDRUB remains firmer. 75.2785, Jan 5 high has been probed. A clear break would expose 75.9104, the Dec 22 high.
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