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CEEMEA FX Price Signal Summary - USDZAR Reversal Exposes Support

EMERGING MARKETS
  • USDZAR has reversed course and a short-term bearish theme dominates for now. Yesterday’s sell-off and today’s follow-through has exposed support at 18.4597, the Nov 29 low. A break would strengthen a bearish threat and signal scope for an extension towards 18.1117, the Nov 15 low. Key short-term resistance has been defined at 19.1386, the Dec 11 high.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.8456, the 20-day EMA. 29.00 has been cleared, the break opens the 30.00 handle.

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