February 06, 2023 12:24 GMT
CEEMEA FX Price Signal Summary - USDZAR Bulls Return
- USDZAR is on the move and bulls have returned. Today’s gains mark an extension of the strong rally Friday. The pair has cleared resistance at 17.4908, the Jan 31 high. The break higher signals scope for gains towards 17.7601, the Dec 13 high and 17.9596, the Dec 1 high. On the downside, a key short-term support has been defined at 16.9317, the Feb 2 low.
- 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 18.7829,marks the first support.