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Option recap


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Option recap

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  • The EURHUF pullback is likely a correction. A bullish theme still prevails and attention is on 369.25, Oct 29 2020 high and 369.54, Apr 1 2020 high. This is a key resistance area and a break would confirm a resumption of the long-term uptrend. Initial firm support to watch is at 364.54, Mar 11 low.
  • EURPLN maintains a bullish tone. The cross last week probed resistance at 4.6217, Dec 31 high. A clear break would open 4.6458, Oct 29 2020 high and a key bull trigger. Key support lies at 4.5594, Mar 9 low.
  • USDZAR, is consolidating but remains weaker following the recent sell-off. The break lower last week highlights scope for a deeper pullback towards 14.3966, Feb 24 low. Initial resistance is seen at 15.0402, Mar 12 high.
  • USDTRY initial support lies at 7.6958, Mar 22 low. Yesterday's volatile activity highlights a first key resistance at 8.0470, the day high. Initial resistance is seen at 8.0470 Nov 24 low.
  • USDRUB is sharply higher today extending the recovery that has been in place since 72.5385, the Mar 16 low. The rally exposes a key resistance at 76.4997, Jan 28 high.
MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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