Both currencies depreciated considerably during the Ukraine-Russia conflict, but they have been recovering well for a few days. As EURPLN and EURHUF are usually negatively correlated to EURUSD they were already trading weaker in advance of the crisis but the war made the last straw.
In this respect, the FED also has an impact on Złoty and Forint tonight. In the event that the FED is interpreted rather dovishly at a 25 bp rate hike a weaker Dollar could help PLN and HUF finally but the hurdles are big as we shall see.
EURPLN -- 4.7088
The currency pair printed a new all-time high at 5.00 ish on March 7th and has since recovered. So the crisis was just bad enough to set the previous ATH but not worse. Anyway the pair is approaching an important support zone between 4.68 (-0.70% ish) and 4.63 (-1.70% ish). This is where it is decided how sustainable the recovery will be. Taking profit in direction of this support zone on PLN longs in particular makes sense in my opinion.
EURHUF -- 372.30
The almost same price trend also applies to this currency pair. The decisive support zone can be found around 372/369 and taking profit on HUF longs in that direction is also useful here. At least the forint has already recovered 7% and apart from a short spike to maybe 365 or so it could be difficult to stay down.
Good luck,
Sebbo