FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

TECHS: CEEMEA FX Price Signal Summary: USDTRY Clears Key Resistance Levels

EMERGING MARKETS
  • EURHUF recent gains have failed to hold above 350.00. The trend is oversold and any short-term gains would allow the condition to unwind. The outlook though is bearish and attention is on 345.00 ahead of 343.65, Jul 31 2020 low. Initial resistance is at 353.15, Dec 14, 2020 low and the recent key breakout level.
  • EURPLN maintains a bearish tone following last week's break of support at 4.5203, Apr 12 low and 4.5202, 76.4% of the Feb 10 - Mar 29 rally. This signals scope for a deeper sell-off towards 4.4709, Feb 10 low. A break would open the 4.4500 handle. For bulls, clearance of 4.5931, Apr 28 high is needed to reverse direction. Initial resistance is at 4.5224, the 20-day EMA.
  • USDZAR maintains a bearish theme and traded lower again yesterday. The recent move through support at 14.1484, Apr 29 low opens 13.6235, the 1.382 Fibonacci projection of the Apr - Jun - Aug 2020 price swing. Key resistance has been defined at 14.5434, May 4 high. Initial firm resistance however is at 14.1989, May 13 high.
  • USDTRY is firmer today and has cleared a host of resistance levels that capped gains between April 22 and May 14. The pair has also traded above 8.598, Jun 11, 2020 high. This confirms a resumption of the broader uptrend and signals scope for a fresh bullish phase and all-time highs. The focus is on 8.6271 next, 1.618 projection of the Feb 16 - Mar 9 - Mar 19 price swing
  • USDRUB is consolidating close to recent lows. The outlook remains bearish following recent weakness and the broader reversal from the Apr 7 high. The focus is on 73.00 and 72.5385, Mar 16 low. Resistance is at 74.6670, May 12 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.