Technical Snapshot in EMEA FX Space – BBH
Analysts at BBH gave a technical picture of the EMEA (Europe, the Middle East, and Africa) space.
Key Quotes
“EUR/HUF has retraced three quarters of the May rise. A break below the April 20 low near 309 and then the February low near 307 would set up a test of the April 2015 low near 295. The 200-day MA comes in near 312.50”.
“EUR/PLN has retraced nearly three quarters of the May rise. Break below the April 21 low near 4.26 would set up a test of the November low near 4.2075 and then the September low near 4.18. The 200-day MA comes in near 4.3150”.
“USD/TRY has retraced over half of the May rise. A break of the 62% retracement objective for that move near 2.8750 would set up a test of the May 2 low near 2.79. Break of the 2.79 area would set up a test of the November low near 2.7580 and then the July low near 2.63. The 200-day MA comes in near 2.9270”.
“USD/RUB has retraced the entire May rise and is making new lows for the year. Charts suggest a test of the November low near 62.34 and then the October low near 60.59. The 200-day MA comes in near 68.90”.
