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CEEMEA FX Price Signal Summary - USDZAR Bear Cycle Remains In Play

EMERGING MARKETS
  • USDZAR remains soft following this week’s extension of the current bear cycle. The latest move down has resulted in a print below key short-term support at 18.5066, the Mar 13 low. A clear break of this level would strengthen a bearish threat and open 18.2550, the Dec 29 low. On the upside, a move through 19.1063, the Mar 28 high, is required to reinstate a bullish theme. Initial resistance is at 18.8346, the 50-day EMA.
  • The path of least resistance in USDTRY is unchanged and the long-term trend remains up. Initial key support around the 20-day EMA - at 32.0407 - has been pierced highlighting a corrective cycle. A deeper pullback would open support at the 50-day EMA, at 31.5075. A move lower would be considered corrective.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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