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CEEMEA FX Price Signal Summary - USDZAR Breaches Support

  • USDZAR traded sharply lower yesterday clearing support at 18.0114, the 50-day EMA. The break lower confirms a short-term corrective cycle and signals scope for a continuation lower. This has opened 17.7071, 50.0% of the Jan 12 - Mar 8 rally. A break would open 17.6431, the Feb 14 low. Initial firm resistance is at 18.2060, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. The 19.00 handle has been breached and the focus is on 19.20 and 19.40 further out. The 20-day EMA at 19.0215, marks the first support.

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