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CEEMEA FX Price Signal Summary - USDZAR Bear Leg Extends

EMERGING MARKETS
  • USDZAR is trading lower again today and for now, maintains a softer tone. This week’s break of support at 18.6945, the Oct 18 low, and the recent move through the 50-day EMA, has strengthened a bearish theme. The break lower has exposed the 18.00 handle. On the upside, initial key resistance has been defined at 19.2710, the Oct 26 high. Resistance at the 50-day EMA, is at 18.9137.
  • The path of least resistance in USDTRY is unchanged and remains up. 25.2874, the Aug 24 low, has been defined as the key short-term support where a break is required to signal scope for a deeper pullback. Initial support lies at 27.9623, the 20-day EMA. The 28.00 handle has been breached, this opens 29.00.
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