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TECHS: CEEMEA FX Price Signal Summary: EURPLN Rebounds From The Day Low

EMERGING MARKETS
  • EURHUF is holding onto recent gains and maintains a firmer tone. The cross is above key resistance at 356.57, Jun 22 high and has probed 358.77, Jul 8 high. A clear break would confirm a resumption of the uptrend and open 360.02, 61.8% of the Mar - Jun downleg and 360.78, May 4 high. Support is seen at 354.73, Jul 9 low. the 50-day EMA.
  • EURPLN is volatile and sharply higher from today's earlier low of 4.5309. A bullish theme remains in place. The cross has this week breached former resistance at 4.5642, Jun 18 high. This confirms a resumption of the uptrend that started Jun 7 and opens 4.6000 and 4.6224, 76.4% of the Mar 29 - Jun 7 downleg. Firm support is seen at 4.5309.
  • The USDZAR outlook remains bullish following Tuesday's strong gains. The pair has breached 14.5180, the Jul 2 high. This reinforces current bullish conditions and attention turns to 15.0000 and 15.0627, 76.4% of the Mar 8 - Jun 7 sell-off. Key short-term support has been defined at 14.1670, Jul 6 low.
  • The current USDTRY pullback is considered corrective. Trend conditions remain bullish with attention on 8.8008, Jun 2 high. A break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support is at 8.2860, Jun 11 low. Initial support lies at 8.5263, the 50-day EMA.
  • USDRUB found resistance last week at 75.3497, high Jul 8. Recent gains resulted in the break of the 50-day EMA and a number of retracement levels. This highlights a bullish condition and the focus is on 75.5628, 61.8% of the Apr 7 - Jun 11 sell-off. The Jul 6 low of 73.1595 marks support.
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