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EURIBOR OPTIONS

Put fly buyer

EURUSD TECHS

Remains Under Pressure

US TSYS

Repo Reference Rates

CORN TECHS

(Z1) Testing The 50-Day EMA

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  • The EURHUF outlook remains bearish following last week's resumption of the downtrend. Attention is on the 345.00 handle ahead of 343.65, Jul 31 2020 low. Initial firm resistance is at 348,99, Jun 8 high.
  • EURPLN needle still points south and recent gains are considered corrective. A bearish theme follows fresh trend lows that were printed earlier this week, down to 4.4360. The focus is on 4.4175, Dec 9 low and a key support. Initial firm resistance is at 4.5037, the May 27 high.
  • USDZAR remains in a downtrend. Recent weakness confirmed a resumption of the downtrend signalling scope for weakness towards 13.2681 next, 1.500 Fibonacci projection of the Apr - Jun - Aug 2020 price swing. Initial resistance is at 13.7772, the 20-day EMA.
  • USDTRY traded sharply lower yesterday as the current corrective cycle extends. Today's initial weakness resulted in a test of the 50-day EMA at 8.3064. The EMA is considered a key support area. A convincing break would open 8.1397, Apr 29 low. The underlying trend remains bullish. A break of 8.6221, Jun 9 high would ease bearish pressure. The key bull trigger is at 8.8008, the Jun 2 high.
  • USDRUB has this week cleared 72.5385, Mar 16 low reinforcing the current bear cycle. Moving average studies are in a bear mode, looking at the 20- and 50-day EMAs. This also clearly highlights the fact that for now, the path of least resistance remains down. The break lower signals potential for weakness towards 71.0838, 76.4% retracement of the Jun - Oct 2020 rally. Resistance is at 73.2061, the 20-day EMA.