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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.
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CEEMEA FX Price Signal Summary - USDZAR Pulls Back From Last Week's High
- USDZAR continues to pull away from last week’s high of 19.1533, the Jul 7 high. A continuation lower would highlight a stronger bearish threat and pave the way for a move towards key support at 18.1250, the Jun 16 low. Initial support to watch is at 18.6121, the Jul 4 low. For bulls, clearance of 19.1533 is required to reinstate a bullish theme. This would open 19.2346, 61.8% of the Jun 1 - 16 bear leg. The 76.4% level is at 19.4967.
- The path of least resistance in USDTRY is unchanged and remains up. The latest recovery highlights a continued acceleration of the uptrend. The 26.00 objective has been pierced and the focus is on 27.00 next. The 20-day EMA at 25.0128 marks the first key support.
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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.