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CEEMEA FX Price Signal Summary - USDZAR Remains Below Recent Highs

EMERGING MARKETS
  • The USDZAR uptrend remains intact, however, the latest pullback highlights a corrective cycle. Attention has been on support at 18.0825, the Mar 3 low. The pair challenged this support yesterday. A clear break of it would signal scope for a deeper pullback and open 17.8638, the 50-day EMA. Key resistance and the bull trigger is at 18.7192, the Mar 8 high. A breach of this hurdle would resume the uptrend and open the 19.00 handle.
  • The primary trend direction in USDTRY is unchanged and the path of least resistance remains up. The 18.9000 handle has been breached and the focus is on 19.00. The 20-day EMA at 18.8877, marks the first support.

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