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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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CEEMEA FX Price Signal Summary: USD/ZAR Rallies Shortlived
- USDZAR staged a sharp intraday rally late yesterday on news of the finance minister's resignation, but the rally was short-lived, keeping the outlook negative for now after failing to break 15.00 in late July. The pair holds between support at the 50-dma (successfully held at 14.22 on Wednesday) and resistance crossing at the 14.69 200-dma.
- EURHUF downtrend has extended further Friday, with the cross printing lower lows for a tenth consecutive session. Support at both the 50- and 100-dmas have given way, opening losses toward 351.76 Fib support.
- EURPLN has stabilised after pulling lower on the failed break of the 4.60 double top. Bulls need to retake this level to open 4.6224, 76.4% of the Mar 29 - Jun 7 downleg. Firm support is seen at 4.5309, Jul 15 low.
- USDTRY is extending the rally off the Monday lows, with the 50-dma successfully providing resistance at current levels. Markets need to top this first at 8.5978 to stage a test on 8.6263 as well as the year's highs of 8.8008. Key support is unchanged at 8.2860, Jun 11 low.
- USDRUB remains toward the bottom-end of the recent range, with 72.6851 the downside level to watch. Scope exists for a deeper pullback towards the 72.00 handle. The bull trigger is at 75.3497, Jul 8 high. Initial resistance is at 74.2742, Jul 26 high.
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Why MNI
MNI is the leading provider
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