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CEEMEA FX Price Signal Summary -USDZAR Bull Cycle Extends

  • USDZAR is trading higher again today. The pair has this week cleared resistance at 17.4908, the Jan 31 high. The break higher signals scope for gains towards 17.9596 next, the Dec 1 high. A break of this hurdle would expose 18.1363, 76.4% of the Oct 13 - Jan 12 bear leg. On the downside, a key short-term support has been defined at 16.9317, the Feb 2 low. Initial support lies at 17.2855, the 50-day EMA.
  • The primary trend direction in USDTRY is unchanged and remains up. The 18.8000 handle has been breached and the focus shifts to 18.9000. The 20-day EMA at 18.7964, marks the first support.

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