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CEEMEA FX Price Signal Summary - USDZAR Pullback Extends

EMERGING MARKETS
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • USDZAR continues to trade on a weaker note, extending the reversal that started Aug 5. The pair has traded thorough support at 18.1064, the Aug 1 low. The break represents a bearish development and cancels a recent bullish theme. A continuation lower would open 17.8689, the Jun 21 low. Initial resistance to watch is 18.3355, the 50-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 33.00 handle. Initial support lies at 33.2497 the 20-day EMA. Scope is seen for a climb towards the 34.00 handle.
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  • USDZAR continues to trade on a weaker note, extending the reversal that started Aug 5. The pair has traded thorough support at 18.1064, the Aug 1 low. The break represents a bearish development and cancels a recent bullish theme. A continuation lower would open 17.8689, the Jun 21 low. Initial resistance to watch is 18.3355, the 50-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 33.00 handle. Initial support lies at 33.2497 the 20-day EMA. Scope is seen for a climb towards the 34.00 handle.