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CEEMEA FX Price Signal Summary - Monitoring Resistance In USDZAR

EMERGING MARKETS
  • USDZAR is trading higher but remains below its recent high. Key resistance has been defined at 18.9570, the Nov 24 high. A break of this level would strengthen a bullish theme and open 19.2710, the Oct 26 high. On the downside, a reversal lower would instead expose the short-term bear trigger at 18.1117, the Nov 15 low. Clearance of this level would open 17.9434, the 76.4% retracement of the Jul 27 - Oct 6 bull phase.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.6558 the 20-day EMA. The focus is on the 29.00 handle. Short-term pullbacks are considered corrective.

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