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FOREX

FX OPTION EXPIRY

MARKET INSIGHT

Price Signal Summary - USD Under Pressure

GERMAN AUCTION RESULTS

More on the weak Schatz auction

GERMAN AUCTION RESULTS

New 0% Jun-23 Schatz

EMERGING MARKETS
  • EURHUF is firmer again this morning. Recent gains are considered corrective though. The technical condition remains bearish and the downtrend that started Dec 31 is intact. The recent breach of 356.32, Jan 25 low opens 353.15 next, a major support and Dec 14 low.
    • Key resistance is at 361.14, Jan 27 high where a break is required to alter the picture.
  • EURPLN continues to trade closer to recent lows. Last week's move below support at 4.4946, Jan 7 low opens 4.4657, 76.4% of the rally between Dec 9 - Dec 31. Initial firm resistance is seen at 4.5127, the 20-day EMA.
  • USDZAR resistance at 15.3792, Jan 28 high remains intact and the pair is trading lower.
    • A breach of 15.3792 is required to expose key short-term resistance at 15.6625, Jan 11 high.
    • Key support at 14.7667, Jan 21 low has been probed. A clear break would be bearish and trigger a stronger sell-off towards 14.5037, Dec 25 low.
  • USDTRY bearish conditions continue to dominate. The recent extension lower opens 7.00, an important psychological round number. The 20-day EMA at 7.2868 marks a firm resistance.
  • USDRUB is off recent highs and weaker again today. The pair has probed 73.9111, 76.4% of the rally between Jan 14 - 28. A clear break would expose 73.0665, Jan 4 low. Key resistance and the bull trigger has been defined at 76.4997, Jan 28 high. Initial resistance is at Friday's 74.9865, the 20-day EMA.