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CEEMEA FX Price Signal Summary - USDZAR Is Approaching Its All-Time High

EMERGING MARKETS
  • The USDZAR trend outlook remains bullish and the latest 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. Today’s gains have resulted in a print above the psychological 19.00 handle and a clear break would open 19.1871, the Apr 24 high 2020 high, ahead of the all-time high of 19.3508, on Apr 6 2020. 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 19.4272, marks the first support.

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