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CEEMEA FX Price Signal Summary - USDZAR Clears Resistance And Resumes Its Uptrend

EMERGING MARKETS
  • The USDZAR trend outlook remains bullish and today’s appreciation has confirmed a resumption of the uptrend that started in June 2021 - former key short-term resistance at 18.7192, the Mar 8 high, has been cleared. This paves the way for a climb towards 18.9537, the May 4 2020 high ahead of the psychological 19.00 handle. Support is seen at 18.5075, the May 2 high.
  • The path of least resistance in USDTRY is unchanged and remains up. The 19.40 objective has been achieved and the focus shifts to the 19.60 handle next. The 20-day EMA at 19.4148, marks the first support.

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