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CZECHIA

CNB Very Likely To Hike By 50bps This Week

FOREX

FX OPTION EXPIRY

POLAND

NBP Shifting Towards a November Hike?

EMERGING MARKETS
  • EURHUF has extended its current sell-off and traded below support at 356.32, Jan 25 low.
    • The break highlights a stronger bearish theme and exposes 355.19, Dec 18 low and potentially 353.15, the major support and Dec 14 low.
    • Key resistance has been defined at 361.14, Jan 27 high.
  • EURPLN is under pressure too this morning and is trading below the 50-day EMA. Attention turns to the key support at 4.4946, the Jan 7 low. A break would open 4.4771, Dec 29 low. Key resistance is at 4.5618, Jan 28 high.
  • The USDZAR recovery from 14.7667, Jan 21 low, has found resistance at 15.3792.
    • The pair needs to clear 15.3800, the Jan 18 high to expose key short-term resistance at 15.6625, Jan 11 high.
    • Key support is unchanged at 14.7667, Jan 21 low.
  • USDTRY is on the move again. The pair has traded to a fresh trend low, breaching former support at 7.2406, Jan 7 low. This opens 7.1357, Aug 7, 2020 low.
  • USDRUB maintains a firmer posture following last week's gains. The pair has cleared 75.9104, Dec 22 high.
    • This paves the way for a climb towards 76.8035, 50.0% of the Nov 2 - Dec 17 sell-off.
    • Support is seen at 74.6954, the 20-day EMA.
MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com