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TECHS: CEEMEA FX Price Signal Summary

EMERGING MARKETS
  • EURPLN has edged higher but is finding resistance ahead of 4.5500. In pattern terms, recent price action still appears to be a bear flag, reinforcing a bearish theme.
    • Key support is at 4.4946, Jan 7 low and a bear trigger.
    • The resistance to watch is at 4.5581, 50.0% of the downleg between Dec 31 - Jan 7.
  • EURHUF resistance is at 362.11, Jan 1 high. A break would signal scope for a stronger rally. Tuesday's price pattern is a bearish engulfing candle. If correct, it suggests scope for retest of last week's 356.53 low on Jan 7.
  • USDZAR key resistance is located at 15.9038. The top of a bear channel drawn off the Apr 24 high. While this channel remains intact, recent gains are considered a correction. Initial support is at 15.0451, the 20-day EMA.
  • USDTRY gains have stalled at the 20-day EMA this week. A clear breach of the average would open 7.6301, the 50-day EMA.
    • A key pivot support lies at 7.2406, Jan 7 low and is close to the May 2020 high and the Aug 2013 high. A break of 7.2406 would resume the downtrend.
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