Free Trial

CEEMEA FX Price Signal Summary - USDZAR Remains Below Resistance

  • USDZAR remains below its recent high. Key resistance has been defined at 18.9570, the Nov 24 high. A break of this level would strengthen a bullish theme and open 19.2710, the Oct 26 high. On the downside, a stronger reversal lower would instead expose the short-term bear trigger at 18.1117, the Nov 15 low. Clearance of this level would open 17.9434, the 76.4% retracement of the Jul 27 - Oct 6 bull phase.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.6758 the 20-day EMA. The focus is on the 29.00 handle. Short-term pullbacks are considered corrective.

To read the full story



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.