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CEEMEA FX Price Signal Summary - USDZAR Bearish Retracement Extends

EMERGING MARKETS
  • USDZAR remains below its most recent high and the pair is trading lower today. A continuation would expose the short-term bear trigger at 18.1117, the Nov 15 low. Clearance of this level would strengthen a bearish threat and open 17.9434 next, the 76.4% retracement of the Jul 27 - Oct 6 bull phase. Key resistance and the short-term bull trigger has been defined at 18.9570, the Nov 24 high. A break would open 19.2710, the Oct 26 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 28.6264 the 20-day EMA. The focus is on the 29.00 handle.

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