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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.
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