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Free AccessCEEMEA FX Price Signal Summary - USDTRY Trend Needle Still Points North
The trend condition in USDZAR is unchanged and remains bullish. On Oct 12 / 13, the pair traded to fresh trend high and breached resistance at 18.2214, the Sep 28 high. This maintains a bullish price sequence of higher highs and higher lows and reinforces the uptrend. A resumption of the bull cycle would open the 19.00 handle. Key short-term support lies at 17.5709, the Oct 4 low.
USDTRY trend conditions remain bullish and the pair is trading at its recent highs. Price has recently cleared 18.3633, the Dec 20 2021 high and key resistance. The 18.6000 handle has also been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.5181 is the initial firm support to watch.
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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.