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HUF: USDHUF Back Above 50-Day EMA on Latest Tariff Talk

HUF
CEEMEAEM BulletBulletEmerging Market NewsHungary

Comments from Trump on tariffs late yesterday sparked renewed weakness for EM FX, and the Hungarian forint is moving lower in tandem with its CE3 peers this morning. EURHUF hit a 2-month low yesterday, but has since recovered around 0.6%, placing the cross just above the week’s opening levels. Perhaps more notably, USDHUF is around 0.5% higher on the session and back above the 50-day EMA. A close above this average would undermine the recent bearish threat.

  • We noted yesterday that the 14-day RSI for EURHUF reached its lowest since May last year, indicating that today’s move higher appears corrective from a technical standpoint. The cross remains comfortably below the January highs as well as the 20- and 50-day EMAs, keeping focus on support at 405.52, the Nov 15 low. A stronger reversal higher would instead refocus attention on 416.65, the Jan 7 high and bull trigger.
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Comments from Trump on tariffs late yesterday sparked renewed weakness for EM FX, and the Hungarian forint is moving lower in tandem with its CE3 peers this morning. EURHUF hit a 2-month low yesterday, but has since recovered around 0.6%, placing the cross just above the week’s opening levels. Perhaps more notably, USDHUF is around 0.5% higher on the session and back above the 50-day EMA. A close above this average would undermine the recent bearish threat.

  • We noted yesterday that the 14-day RSI for EURHUF reached its lowest since May last year, indicating that today’s move higher appears corrective from a technical standpoint. The cross remains comfortably below the January highs as well as the 20- and 50-day EMAs, keeping focus on support at 405.52, the Nov 15 low. A stronger reversal higher would instead refocus attention on 416.65, the Jan 7 high and bull trigger.