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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
- USDHUF has been retracing higher in the past few days after finding a local low of 297 on April 30 and is currently testing its psychological 300 resistance; a break above that level would open the door for a move up to 304 (50D SMA).; On the downside, first support to watch remains at 295.
- GBPHUF has been retracing higher this week after failing to break below its 100D SMA on Friday; resistances to watch on the topside stand at 421 (50D SMA), followed by 427.50. On the downside, key support to watch remains at 413 (100D SMA).
- CZKHUF has been retracing higher in the past two days and currently trades slightly below the 14 level; key level to watch on the topside stands at 14.15, which was reached on March 22 and also represents the pair's all-time high. On the downside, first support to watch stands at 13.86 (100D SMA), followed by 13.70 (the low of the LT upward trending channel).
- PLNHUF has been retracing higher this week after finding a local low of 78.66 on Friday; resistances to watch on the topside stand at 79.32, followed by 79.45. On the downside, levels to watch below 78.66 stand at 78.48, followed by 78.
- HUFJPY has been testing its ST resistance at 36.65 (LT downward trending resistance line) in the last week; a break above that level would open the door for a move up to 37 (Jan 2020 highs). On the downside, first support to watch stands at 36.23, followed by the psychological 36 level. (Scale*100).
The LT chart below on HUFJPY also shows that 36.65 represents an important LT resistance, the 38.2% Fibo retracement of the 2018-2021 high low range (liquidity reached a peak in early 2018 in EM market before starting to contract amid rising uncertainty and preference for the USD).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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