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US-CHINA

Biden Commits To Taiwan Defence, Beijing Pushes Back

DATA REACT

EURUSD to high of the day but limited FI reaction

DATA REACT

EURUSD to high of the day but limited FI reaction

GERMAN DATA

PMI: "Unprecedented" rise in output prices

FRANCE DATA

PMI data: Inflationary pressures "grew stronger"

HUNGARY
  • USDHUF continues to test new lows ahead of the NBH meeting today, currently trading at its lowest level since March 2019; next support to watch on the downside stands at 280, followed by 274. On the topside, first resistance stands at 290, followed by 295.
  • EURHUF ticks higher this morning after finding a local low of 347 yesterday; RSI 14D has been indicating that the pair was strongly 'oversold' in recent days. First resistance to watch stands at 350, followed by 352; on the downside, next support stands at 344.
  • HUFJPY: momentum on the pair remains firm after it broke its 38.11 resistance last week (50% retracement of the 31.78 – 44.44 range); the pair is currently testing its ST resistance at 38.43, next key level to watch on the topside stands at 39.60 (61.8% Fibo retracement). On the downside, first support stands at 38.11, followed by 38. (scale*100).
  • CZKHUF ticks higher this morning after finding a local low of 13.65 yesterday, currently trading slightly below its 200D SMA at 13.70; next support level stands at 13.50, which represents the 38.2% Fibo retracement of the 12.43 – 14.15 range (2020/2021 low high range), followed by 13.36. On the topside, first resistance stands at 13.87 (100D SMA), followed by 13.91 (50D SMA).
  • PLNHUF has been retracing slightly higher in the past week after finding support at 77.20; first resistance to watch on the topside stands at 78, followed by 78.50. On the downside, first support stands at 77, followed by 76.60.
  • GBPHUF also ticks higher this morning after finding a low of 402 yesterday; momentum on the pair has been strongly bearish in recent two weeks with GBPHUF breaking below its 200D SMA on Friday. First support to watch stands at 400 (psychological level), followed by 398, which represents the LT upward trending support line. On the topside, first resistance stands now at 406 (200D SMA), followed by 410. 14D RSI shows that the pair is moderately 'oversold'.(see chart).

Source: Bloomberg/MNI

MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com
MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com