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TECHS: CEEMEA FX Price Signal Summary: EURHUF Needle Still Points South

EMERGING MARKETS
  • The EURHUF outlook remains bearish following last week's resumption of the downtrend. Attention is on 345.00 ahead of 343.65, Jul 31 2020 low. Initial firm resistance is unchanged at 351.46, May 26 high.
  • EURPLN needle still points south following fresh trend lows that were printed earlier in the week, down to 4.4360. Short-term gains are considered corrective. The focus is on 4.4175, Dec 9 low and a key support. Initial firm resistance is at 4.5037, the May 27 high.
  • USDZAR traded lower Jun 4. This confirmed a resumption of the downtrend signalling scope for weakness towards 13.2681 next, 1.500 Fibonacci projection of the Apr - Jun - Aug 2020 price swing. Initial resistance is at 13.7947, the 20-day EMA.
  • USDTRY spiked higher Jun 2 reaching 8.8008 before finding resistance. The outlook is unchanged and remains bullish with the focus on 8.9657 next, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing ahead of the psychological 9.00 barrier. A firm support is at 8.2941, May 18 low.
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