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CEEMEA FX Price Signal Summary - USDZAR Pullback Considered Corrective


The uptrend in USDZAR remains intact. The pair last week traded to fresh trend high and breached resistance at 18.2214, the Sep 28 high. This maintains a bullish price sequence of higher highs and higher lows and reinforces the bull trend condition. A resumption of gains would open the 19.00 handle. Key short-term support lies at 17.5709, the Oct 4 low.
USDTRY trend conditions remain bullish and the pair is trading closer to its recent highs. Price has recently cleared 18.3633, the Dec 20 2021 high and key resistance. The 18.6000 handle has also been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.4730 is the initial firm support to watch.

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