Free Trial

CEEMEA FX Price Signal Summary - USDZAR Remains Above Support

EMERGING MARKETS
  • The trend outlook in USDZAR is unchanged and remains bullish plus the recent pullback appears to have be a correction. Key short-term support has been defined at 18.3805, the Aug 24 low. Clearance of this support would be a bearish development. On the upside, key short-term resistance at 19.2978, the Aug 15 high, has recently been pierced. A clear break of this hurdle would open 19.9204, the Jun 1 high. First support to watch is 18.6825.
  • The path of least resistance in USDTRY is unchanged and remains up. 25.2874, the Aug 24 low, has been defined as the key short-term support where a break is required to signal scope for a deeper pullback. On the upside, the focus is on a climb towards 28.00.

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.