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TECHS: CEEMEA FX Price Signal Summary: USDZAR Back Below 15.00

EMERGING MARKETS
  • USDZAR dips back below 15.00. Recent gains stalled at 15.6625, Jan 11 high and this means the pair has failed to tackle key resistance at 15.8514, the top of a bear channel drawn off the Apr 24 high.
    • While this channel remains intact, a broader downtrend dominates.
    • The next support lies at 14.8865, Jan 1 low.
  • EURPLN is holding onto recent gains but still finding resistance at the 4.5500 level. The near-term outlook remains bearish and recent gains are considered corrective.
    • Key support is at 4.4946, Jan 7 low and a bear trigger. -
    • the resistance to watch is at 4.5581, 50.0% of the Dec 31 - Jan 7 downleg.
  • EURHUF remains below resistance at 362.11, Jan 1 high. A break higher would signal scope for a stronger rally. The price pattern on Jan 12 is a bearish engulfing candle. If correct, this suggests scope for retest of 356.53.Jan 7 low.
  • USDTRY is unchanged and hovering around the 20-day EMA. A clear breach of the average would open 7.6086, the 50-day EMA.
    • A key pivot support lies at 7.2406, Jan 7 low and is close to the May 2020 high and the Aug 2013 high. A break of 7.2406 would resume the downtrend.
  • The near-term USDRUB directional triggers remain 73.0665, Jan 4 low and 75.2785, Jan 5 high.
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