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CEEMEA FX Price Signal Summary - USDZAR Approaches Key Short-Term Support

EMERGING MARKETS
  • The USDZAR is trading lower today. Attention is on support at 18.0420, the Mar 14 low. A clear break this level would signal scope for a deeper pullback and open 17.9879, the 50-day EMA. This average represents an important support and a clear break of it would also reinforce any developing bearish threat. Key resistance and the bull trigger is unchanged at 18.7192, the Mar 8 high. A break of this hurdle would resume the uptrend and open the 19.00 handle.
  • The primary trend direction in USDTRY is unchanged and the path of least resistance remains up. The 19.00 handle has been breached and the focus is on 19.20. The 20-day EMA at 18.9467, marks the first support.
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