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CEEMEA FX Price Signal Summary - USDZAR Bear Threat Remains Present

EMERGING MARKETS
  • A short-term bearish theme in USDZAR dominates for now. A recent sell-off resulted in the break of a number of short-term supports and most recently, 18.1117, the Nov 15 low has been pierced. A continuation lower would signal scope for a move towards 7.9434, 76.4% of the Jul 27 - Oct 6 bull leg. Clearance of this level would expose 17.4193, the Jul 27 low. Initial resistance is at 18.7444, the Dec 26 high. Key resistance is at 19.1386, the Dec 11 high.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 29.1032, the 20-day EMA. 29.00 has been cleared, the break opens the 30.00 handle.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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