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TECHS: CEEMEA FX Price Signal Summary: EURHUF Holds Onto The Lows

EMERGING MARKETS
  • EURHUF is consolidating but remains softer following the recent sell-off. The break of 356.32, Jan 25 low opens 353.15 next, a major support and Dec 14 low.
    • Key resistance is at 361.14, Jan 27 high. Initial resistance is at 357.58, Feb 1 high.
  • EURPLN traded lower Tuesday and importantly moved through support at 4.4946, the Jan 7 low. This opens 4.4657, 76.4% of the rally between Dec 9 - Dec 31. Initial firm resistance is seen at 4.5215, the 20-day EMA.
  • USDZAR resistance has been defined at 15.3792, Jan 28 high.
    • The pair needs to clear this resistance to expose key short-term resistance at 15.6625, Jan 11 high.
    • Key support is unchanged at 14.7667, Jan 21 low. A break would be bearish and trigger a stronger sell-off towards 14.5037, Dec 25 low.
  • USDTRY remains heavy. The pair has this week breached former support at 7.2406, Jan 7 low. This opens 7.00, an important psychological round number. The 20-day EMA at 7.3565 marks initial resistance.
  • USDRUB maintains a firmer posture following last week's gains - the pair on Jan 28 traded above 75.9104, Dec 22 high
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