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EMERGING MARKETS: CEEMEA FX Price Signal Summary - Monitoring Support In USDZAR

EMERGING MARKETS
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  • USDZAR remains in a bull cycle and the latest pullback is considered corrective - for now. Recent gains confirmed a resumption of the uptrend. Note that moving average studies are in a bull mode set-up highlighting a dominant uptrend. A resumption of gains would refocus attention on; 19.2696, the Apr 23 ‘24 high, and 19.3899, the Feb 23 ‘24 high. Firm support has been defined at 18.4323, the Jan 6 low. Support at the 50-day EMA, lies at 18.4291. A break of both support points would expose 18.2503, the Dec 23 low.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a continuation of the trend. The focus is on the 36.00 handle. Support at the 20-day EMA, lies at 35.3871.
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  • USDZAR remains in a bull cycle and the latest pullback is considered corrective - for now. Recent gains confirmed a resumption of the uptrend. Note that moving average studies are in a bull mode set-up highlighting a dominant uptrend. A resumption of gains would refocus attention on; 19.2696, the Apr 23 ‘24 high, and 19.3899, the Feb 23 ‘24 high. Firm support has been defined at 18.4323, the Jan 6 low. Support at the 50-day EMA, lies at 18.4291. A break of both support points would expose 18.2503, the Dec 23 low.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a continuation of the trend. The focus is on the 36.00 handle. Support at the 20-day EMA, lies at 35.3871.