HUNGARY: Hungary, UK Foreign Ministers Discuss Energy Cooperation
- Hungary plans to use small modular nuclear reactors as part of its energy mix, Bloomberg report Foreign Minister Peter Peter Szijjarto as saying after talks with his UK counterpart David Lammy. The two nations discussed energy cooperation, with Szijjarto citing Rolls Royce as a leader in the so-called SMR industry. Hungary is ready to take part in the technology’s development and eventual use, he said.
- Prime Minister Viktor Orban is on the second day of his official visit to the United Arab Emirates, where he will hold talks with UAE President and Abu Dhabi ruler Sheikh Mohammed bin Zayed Al Nahyan, as well as leaders of Emirati companies, according to a statement from the prime minister’s press office yesterday.
- According to Szijjarto, Orban will discuss the real estate development project of Abu Dhabi-based Eagle Hills during his visit. The proposed plan would involve one of Hungary’s biggest property developments that may include the construction of the EU’s highest skyscrapers and luxury apartments. The plot of land was sold to Eagle Hills last week.
- However, the Budapest assembly will today debate a proposal put forward by Mayor Gergely Karacsony to exercise Hungary’s pre-emptive right to purchase the land that was sold. “Budapest will defend its rights, land and future,” Karacsony told Bloomberg.
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Historical bullets
AUDUSD TECHS: Southbound
- RES 4: 0.6471 High Dec 9
- RES 3: 0.6444 50-day EMA
- RES 2: 0.6384 High Dec 13
- RES 1: 0.6274/6323 Low Dec 20 / 20-day EMA
- PRICE: 0.6236 @ 08:08 GMT Dec 30
- SUP 1: 0.6199 Low Dec 19
- SUP 3: 0.6158 1.236 proj of the Sep 30 - Nov 6 - 7 price swing
- SUP 3: 0.6100 Round number support
- SUP 4: 0.6045 1.500 proj of the Sep 30 - Nov 6 - 7 price swing
AUDUSD bears remain in the driver’s seat and the pair is trading closer to latest lows. Recent weakness maintains the price sequence of lower lows and lower highs. Note that moving average studies are in a bear-mode position too, highlighting a dominant downtrend. Scope is seen for an extension towards 0.6158 next, a Fibonacci projection. Initial firm resistance to monitor is 0.6323, the 20-day EMA.
EURJPY TECHS: Has Cleared All Key Retracement Points
- RES 4: 166.69 High Oct 31
- RES 3: 166.18 2.0% 10-dma envelope
- RES 2: 166.10 High Nov 6
- RES 1: 165.04 High Nov 15 and a key short-term resistance
- PRICE: 164.66 @ 08:02 GMT Dec 30
- SUP 1: 163.32 Low Dec 26
- SUP 2: 162.22/159.82 20-day EMA / Low Dec 18
- SUP 3: 158.67 Low Dec 11
- SUP 4: 157.87 Low Dec 09
A bullish condition in EURJPY remains intact and the cross is holding on to its recent gains. Price has breached all the relevant Fibonacci retracement points of the bear leg between Oct 31 - Dec 3. Sights are on 165.04, the Nov 15 high. Clearance of this hurdle would open 166.69, the Oct 31 high and the next major resistance. Initial firm support lies at 162.22, the 20-day EMA. A pullback would be considered corrective.
MNI: SWISS KOF DEC ECONOMIC BAROMETER 99.5
- MNI: SWISS KOF DEC ECONOMIC BAROMETER 99.5
