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TECHS: CEEMEA FX Price Signal Summary: USDZAR Slips Again

EMERGING MARKETS
  • EURHUF remains soft following this week's resumption of the downtrend. Attention is on 345.00 ahead of 343.65, Jul 31 2020 low. Initial resistance is at 351.46, May 26 high.
  • EURPLN needle still points south. The cross has resumed its downtrend this week and cleared a key support at 4.4709, Feb 10 low. This opens the 4.4500 handle. For bulls, initial resistance is at 4.5045, the 20-day EMA.
  • USDZAR sold off sharply yesterday as the downtrend extends. This confirms a resumption of the trend and signals scope for weakness towards 13.2681 next, 1.500 Fibonacci projection of the Apr - Jun - Aug 2020 price swing. Initial resistance is at 13.9314, the 20-day EMA.
  • USDTRY spiked higher yesterday reaching 8.8008 before finding resistance.
    • The outlook remains bullish following the recent breach of a host of resistance levels that had capped gains between April 22 and May 14.
    • The pair has also cleared 8.5793, Nov 6, 2020 high.
    • The focus is on 8.9657 next, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing ahead of the psychological 9.00 barrier.
    • A firm support is seen at 8.2941, May 18 low.
  • USDRUB is lower. The outlook remains bearish following the broader reversal from the Apr 7 high. The focus is on 73.00 and 72.5385, Mar 16 low. Resistance is at 73.8575, May 24 high.
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