MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

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: USDZAR Bullish Price Structure

EMERGING MARKETS
  • EURHUF has retraced some of last week's early sell-off. The cross remains vulnerable though and short-term gains are considered corrective. The recent extension lower has exposed 345.14, Jun 10 low and a key support plus bear trigger. On the upside, key short-term resistance has been defined at 356.57, Jun 22 high.
  • The rally in EURPLN between Jun 7 - 18 resulted in a break of both the 20- and 50-day EMAs suggesting scope for a stronger recovery. A resumption of strength would open 4.5868, 61.8% of the Mar 29 - Jun 7 downleg and 4.5931, Apr 28 high. Support is at 4.4872, Jun 14 low. The cross continues to test the 20-day EMA, that is providing support for now - the EMA intersects at 4.5133.
  • The USDZAR outlook remains bullish. A key bear channel resistance drawn off the Apr 24 2020 high was cleared recently. Price has also traded through the 50-day EMA. The channel has been cleared before. However if the current rally is maintained, this would signal a significant reversal of the downtrend that started early Apr 2020.
    • The focus is on 14.5434 next, May 4 high.
    • Initial support is seen at 14.0084, the 20-day EMA.
  • USDTRY sights are set on 8.8008, Jun 2 high and the bull trigger where a break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support is at 8.2860, Jun 11 low. Initial support is at 8.5986, Jun 23 low.
  • USDRUB maintains a bearish tone following the recent break of 72.5385, Mar 16 low. The focus is on 71.0838, 76.4% retracement of the Jun - Oct 2020 rally. Resistance is at 73.4737, the 50-day EMA.
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.