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CEEMEA FX Price Signal Summary - Corrective Pullback In USDTRY

EMERGING MARKETS
  • USDZAR continues to trade above its March lows. A resumption of gains would pave the way for a climb towards key resistance at 19.3899, the Feb 23 high. Key support has been defined at 18.5066, the Mar 13 low. Clearance of this level would reinstate a bearish threat and open 18.2550, the Dec 29 low. Initial support to watch lies at 18.6478.
  • The path of least resistance in USDTRY is unchanged and the long-term trend remains up. For now, initial key support around the 20-day EMA - at 32.0318 - has been breached. A deeper pullback would open the 50-day EMA, at 31.3884. The move lower is considered corrective.

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