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CEEMEA FX Price Signal Summary - USDZAR Support Remains Intact

EMERGING MARKETS
  • USDZAR traded lower Thursday. Attention is on support at 18.0420, the Mar 14 low (pierced) and 17.9987, the 50-day EMA. A clear breach of this support zone would reinforce any developing bearish threat and expose 17.8813, the Feb 15 low. Key resistance and the bull trigger is unchanged at 18.7192, the Mar 8 high. Clearance 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 19.00 handle has been breached and the focus is on 19.20. The 20-day EMA at 18.9662, marks the first support.

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