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CEEMEA FX Price Signal Summary - USDZAR Retracement Extends

EMERGING MARKETS
  • USDZAR continues to pull away from last week’s high of 19.1533, the Jul 7 high. A continuation lower would highlight a stronger bearish threat and pave the way for a move towards key support at 18.1250, the Jun 16 low. Support at 18.4310, the Jul 27 low, has been pierced, strengthening a bearish threat. For bulls, clearance of 19.1533 is required to reinstate a bullish theme. This would open 19.2346, 61.8% of the Jun 1 - 16 bear leg. The 76.4% level is at 19.4967.
  • The path of least resistance in USDTRY is unchanged and remains up. The recent recovery highlights a continued acceleration of the uptrend. The 26.00 objective has been pierced and the focus is on 27.00 next. The 20-day EMA at 25.1177 marks the first key support.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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