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Technical Analysis: CZKHUF Testing Its Key Resistance At 13.83

HUNGARY
  • USDHUF ticks higher this morning, gradually approaching its ST resistance at 297.50 (200DMA); a break above that level would open the door for a move up to 299.70 (50DMA). On the downside, first support stands at 295, followed by 292.
  • EURHUF ticks higher this morning after finding a local low at 348.50 earlier; ST support to watch on the downside stands at 346.80. on the topside, first resistance stands at 350, followed by 352.70 (100DMA).
  • GBPHUF has been trending higher since yesterday (after finding support at 407.20), gradually approaching its 411.30 resistance (100DMA); a break above that level would open the door for a move up to 413.50 (50DMA). On the downside, first support to watch stands at 404.
  • CZKHUF ticks higher this morning and is currently testing its key resistance at 13.83 (100D/200DMA); next level to watch above that stands at 13.86 (50DMA). On the downside, first support stands at 13.76, followed by 13.72.
  • PLNHUF has been consolidating lower in the past week, gradually approaching its key support at 76. On the topside, first resistance stands at 77, followed by 77.44 (50DMA).
  • HUFJPY continues to retrace lower this morning, with the pair falling below the 37 level; next level to watch on the downside stands at 36.70 (50DMA), followed by 36.55 (38.2% Fibo retracement of the 33.03 – 38.73). On the topside, first resistance stands at 37.17 (100DMA), followed by 37.39 (23.6% Fibo). (scale *100, chart below).

Source: Bloomberg/MNI

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