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Tech Focus: CEEMEA FX Price Signal Summary: USDZAR Pullback Likely Corrective

EMERGING MARKETS
  • EURHUF is unchanged and continues to consolidate. The cross remains vulnerable though and attention is on 345.14, Jun 10 low and a key support plus bear trigger. Key short-term resistance has been defined at 356.57, Jun 22 high. A break would be bullish.
  • The rally in EURPLN between Jun 7 - 18 continues to highlight a bullish theme and scope for a stronger short-term recovery. The recent pullback is considered corrective. A resumption of strength would open 4.5868, 61.8% of the Mar 29 - Jun 7 downleg and 4.5931, Apr 28 high. Support to watch is at 4.4872, Jun 14 low.
  • USDZAR outlook remains bullish despite the pullback Friday from session highs. The focus is on 14.5434 next, May 4 high. Key short-term support is at 14.0212, Jun 25 low.
  • USDTRY is consolidating but trading closer to recent highs. Trend conditions remain bullish and the focus is on 8.8008, Jun 2 high and the bull trigger. A break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support lies at 8.2860, Jun 11 low. Initial support is at 8.5986, Jun 23 low.
  • USDRUB traded higher last week. The pair has traded through the 50-day EMA and this opens 74.0320, 38.2% of the Apr 7 - Jun 11 sell-off. A return below 72.00 would potentially be bearish.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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