Free Trial

CEEMEA FX Price Signal Summary - USDZAR Outlook Remains Bullish

EMERGING MARKETS
  • The USDZAR outlook remains bullish and recent gains reinforce this theme. Following a rally in early April, potential is seen for a climb to 18.6132, the Mar 21 high ahead of key resistance and the bull trigger at 18.7192, the Mar 8 high. On the downside, the 50-day EMA, at 18.1118, has been pierced. A clear break of this average would signal scope for a deeper retracement and expose 17.6993, the Mar 31 low.
  • 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 19.3249, marks the first support.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.