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TECHS: CEEMEA FX Price Signal Summary: USDRUB Eyeing Resistance

EMERGING MARKETS
  • EURHUF maintains a bearish tone as the correction lower extends. The 50-day EMA has been breached and continued weakness 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 remains bullish despite the corrective pullback this week. The cross has recently 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. 4.5837 marks support, Mar 23 low.
  • USDZAR maintains a bearish short-term tone following the recent move lower 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 maintains a firmer tone with attention on key resistance at 8.4704, Mar 22 high. A break of this hurdle would open 8.5793, the Nov 6 high and an important resistance. Key support has been defined at 7.6958, Mar 22 low.
  • USDRUB attention is on 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, Mar 23 low.
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