Free Trial

CEEMEA FX Price Signal Summary - USDZAR Remains Bearish Following Trendline Break

OUTLOOK
  • USDZAR remains bearish following this week’s break of trendline support drawn from the Apr 13 low. The breach strengthens the current downtrend and signals scope for a continuation lower near-term. This has opened 16.7102 next, the Aug 25 low. On the upside, resistance levels to watch are; 17.2996, the former trendline support and a firmer level at 17.5987, the 50-day EMA.
  • The primary trend direction in USDTRY is unchanged and remains up. The 18.6000 handle has recently been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.5874, 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.