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TECHS: CEEMEA FX Price Signal Summary: USDTRY Remains Soft

EMERGING MARKETS
  • EURHUF is firmer this morning. Gains are considered corrective with the technical condition still bearish - the downtrend that started Dec 31 remains 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. Initial resistance is at 358.51, the 50-day EMA.
  • EURPLN is trading 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 4.5165, the 20-day EMA.
  • USDZAR resistance at 15.3792, Jan 28 high remains intact and the pair traded lower Friday.
    • A breach of 15.3792 is required to expose key short-term resistance at 15.6625, Jan 11 high.
    • Key support is unchanged at 14.7667, Jan 21 low. A break would instead be bearish and trigger a stronger sell-off towards 14.5037, Dec 25 low.
  • USDTRY registered a fresh trend low print once again Friday. The extension lower opens 7.00, an important psychological round number. The 20-day EMA at 7.3093 marks a firm resistance.
  • USDRUB is off recent highs and weaker again today. The next support is seen at 73.9111, 76.4% of the rally between Jan 14 - 28. A 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 75.4603 high.
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