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Tech Focus: CEEMEA FX Price Signal Summary: USDTRY Remains Volatile

EMERGING MARKETS
  • EURHUF maintains a bullish tone despite pulling back from last week's high. Attention is on 369.25, Oct 29 2020 high and 369.54, Apr 1 2020 high. This is a key resistance area and a break would confirm a resumption of the long-term uptrend. Initial firm support is at 366.01, Mar 18 low.
  • EURPLN outlook remains bullish. The cross has probed resistance at 4.6217, Dec 31 high. A clear break would open 4.6458, Oct 29 2020 high and a key bull trigger. Key support lies at 4.5594, Mar 9 low.
  • USDZAR, remains soft following the recent sell-off. The break lower last week signals scope for a deeper pullback towards 14.3966, Feb 24 low. Initial resistance is seen at 15.0402, Mar 12 high.
  • USDTRY price action has been extremely volatile. The key levels to watch are:
    • RES 2: 8.4707/5793 Intraday high / Nov 6 high
    • RES 1: 8.0470 Nov 24 low.
    • SUP 1: 7.6958 Intraday low
    • SUP 2: 7.3781 50-day EMA
  • USDRUB is trading closer to recent highs. 72.5385, the Mar 16 low marks the current key support. The recovery this last exposes 75.0632, Feb 22 low.
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