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

EMERGING MARKETS
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  • USDZAR traded higher Monday and this resulted in a print above resistance at 18.6627, the Jul 2 high. A clear break of this hurdle would undermine the recent bearish theme and signal scope for a climb towards 19.0054, the Jun 6 high and a key resistance. Support lies at 18.1064, the Aug 1 low.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 33.00 handle. Initial support lies at 33.0149 the 20-day EMA. Scope is seen for a climb towards the 34.00 handle.
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  • USDZAR traded higher Monday and this resulted in a print above resistance at 18.6627, the Jul 2 high. A clear break of this hurdle would undermine the recent bearish theme and signal scope for a climb towards 19.0054, the Jun 6 high and a key resistance. Support lies at 18.1064, the Aug 1 low.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 33.00 handle. Initial support lies at 33.0149 the 20-day EMA. Scope is seen for a climb towards the 34.00 handle.