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CEEMEA FX Price Signal Summary - Path Of Least Resistance In USDTRY Remains Up

EMERGING MARKETS
  • The recent sell-off in USDZAR appears to have been a correction and the rally on Feb 2 is a positive development . Key support has been defined at 18.1092, the Dec 15 low. Initial support to watch is at 18.5385, the Jan 12 low. A break of this level would be a bearish development, that would expose 18.1092. For bulls, sights are on 19.2180, the Jan 22 high. Clearance of this level would confirm a resumption of the uptrend and open 19.6399, the Oct 6 ‘23 high.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 30.2821, the 20-day EMA. The 30.00 handle has been cleared, this opens 31.00.

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