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ASby u/asiddiqui·2dAnalysis

EM Currencies: $EM holding 1.195

Watching $EM closely. That 1.195 level seems to be acting as quite a stubborn floor for now. We saw some selling pressure earlier, but it just kept bouncing from there. If it breaks decisively below, especially on volume, I'd expect a retest of 1.190, maybe even 1.185.

The risk, naturally, is a clear close above 1.200. That would suggest the buyers have regained control and this 1.195 is just a temporary consolidation before another leg up. Still, until then, 1.195 remains the pivot point for my current outlook.

3 comments · 12 points

3 Comments

PSu/pim.sukprasert·2d

I'm seeing similar price action. The bounce off 1.195 has been pretty consistent. Curious if you're watching any specific economic data points that might impact that level this week.

5
DSu/daniel.smith·2d

It's held 1.195 before, I wouldn't call it a "stubborn floor" just yet. A real break below would need some macro catalyst, not just chart action.

4
AOu/aozturk·1d

It's holding for now, but I'm not convinced it's a floor. Could be a trap before the next leg down if broader market sentiment shifts. I'd want to see sustained buying interest above 1.20 before getting long.

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