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GOLD TECHS

Bearish Extension

SOY TECHS

(N2) Key Resistance Remains Intact

EQUITY TECHS

E-MINI S&P (M2): Approaching Key Support

COPPER TECHS

(N2) Bearish Extension

US TSY OPTIONS

5Y Put Ratio Sale

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EMERGING MARKETS
  • EURHUF maintains a softer tone as the cross continues to give back part of its recent gains. The cross last week cleared support at 364.54, Mar 11 low. The 50-day EMA at 362.81 is under pressure. A clear break of this average would expose 360.35, 61.8% of the rally between Feb 2 and Mar 18.
    • On the upside, initial resistance is at 365.06, Mar 25 high.
  • EURPLN is firmer again this morning. The cross has cleared a host of key resistance levels that have capped gains over the past year. The break higher confirms a resumption of the uptrend that started mid-Jan 2020 and opens the 4.7000 handle, with scope too for 4.7458 further out, the Mar 30, 2009 high.
  • USDZAR maintains a bearish short-term tone following the recent sell-off from 15.5726, Mar 8 high. Scope is seen for a pullback towards 14.3966, Feb 24 low. Initial resistance is at 15.1110, Mar 11 high. The reversal trigger for bulls though is 15.5726, Mar 8 high.
  • USDTRY continues to edge higher. Support has been defined at 7.6958, Mar 22 low. Key resistance is at 8.4704, Mar 22 high high while initial resistance is at 8.2897, 76.4% of last Monday's volatile range.
  • USDRUB traded higher last week but did find resistance at 76.6579. Mar 24 high. A break of this level would signal scope for an extension higher and open 77.7370, 61.8% retracement of the Nov 2020 - Mar downleg. Initial support lies at 75.1322, Tuesday's low.
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com

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