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EMERGING MARKETS: CEEMEA FX Price Signal Summary - USDZAR Outlook Is Bullish

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR has traded higher this week, resulting in a clear break of both the 20- and 50-day EMAs. The break higher undermines a recent bearish theme and signals a reversal of the Nov 14 - Dec 12 bear leg. Resistance at 18.3951, the Nov 14 high and bull trigger, has been pierced. A clear break of it would strengthen a bullish theme and signal scope for gains towards 18.6850, the Aug 5 high. On the downside, key short-term support has been defined at 17.6191, the Dec 12 low. Clearance of this level is required to reinstate the recent bearish theme. First support lies at 18.0225, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend. The 35.00 handle has been cleared. This opens 36.00. Support at the 20-day EMA, lies at 34.8092.
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  • USDZAR has traded higher this week, resulting in a clear break of both the 20- and 50-day EMAs. The break higher undermines a recent bearish theme and signals a reversal of the Nov 14 - Dec 12 bear leg. Resistance at 18.3951, the Nov 14 high and bull trigger, has been pierced. A clear break of it would strengthen a bullish theme and signal scope for gains towards 18.6850, the Aug 5 high. On the downside, key short-term support has been defined at 17.6191, the Dec 12 low. Clearance of this level is required to reinstate the recent bearish theme. First support lies at 18.0225, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend. The 35.00 handle has been cleared. This opens 36.00. Support at the 20-day EMA, lies at 34.8092.