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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 - USDTRY Path Of Least Resistance Remains Up
- USDZAR has recovered from its recent lows, following the pullback from the Feb 23 high. The recent downside break of the 50-day EMA, and support at 18.7622, the Feb 21 low, marks a short-term bearish development. This threatens the recent bullish theme and a resumption of weakness would signal scope for an extension lower. Support at 18.5578, the Feb 2 low, has recently been pierced. A clear break of it would open 18.2550, the Dec 29 low. On the upside, the USD is once again above the 50-day EMA. An extension higher would instead signal a reversal and expose key resistance at 19.3899, the Feb 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 31.7122, the 20-day EMA. The 32.00 handle has been breached and this opens 33.00.
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Why MNI
MNI is the leading provider
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.