Free Trial

CEEMEA FX Price Signal Summary - USDTRY Uptrend Extends Once Again

  • A bullish outlook in USDZAR remains intact and the Feb 23 break higher reinforces this condition. This week’s pullback is considered corrective - for now. The pair has cleared resistance at 19.2180, the Jan 22 high, confirming a resumption of the uptrend. The move signals scope for a climb towards 19.6399, the Oct 6 ‘23 high. Key support has been defined at 18.7622, the Feb 21 low. A break of this level would alter the picture.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 30.8291, the 20-day EMA. The 31.00 handle has been cleared, the focus is on 32.00.

To read the full story



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.