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TECHS: CEEMEA FX Price Signal Summary: EURHUF Approaches Support

EMERGING MARKETS
  • USDZAR remains softer following this week's move below 15.00.
    • Recent gains stalled at 15.6625, Jan 11 high and this means the pair has failed to tackle key resistance at 15.8339, the top of a bear channel drawn off the Apr 24 high.
    • While this channel remains intact, a broader downtrend dominates.
    • The next support lies at 14.7772, 76.4% of the rally between the Dec lows and the Jan highs.
  • EURPLN is still finding resistance at 4.5500. The outlook is bearish and recent gains are likely a correction.
    • Key support is unchanged at 4.4946, Jan 7 low and a bear trigger.
    • The resistance to watch is at 4.5581, 50.0% of the Dec 31 - Jan 7 downleg.
  • EURHUF is approaching support at 356.53, Jan 7 low. A break would open 356.00, 76.4% of the Dec 14 - 31 rally.
  • USDTRY is unchanged and hovering around the 20-day EMA. A clear breach of the average would open 7.6032, the 50-day EMA.
    • A reminder that 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.
  • The near-term USDRUB directional triggers are unchanged at 73.0665, Jan 4 low and 75.2785, Jan 5 high.
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