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CEEMEA FX Price Signal Summary - USDZAR Support Remains Intact

EMERGING MARKETS
  • USDZAR remains in an uptrend and the latest pullback is considered corrective - for now. Resistance at 19.1533, the Jul 7 high, was breached last week. This reinforces current bullish conditions and opens 19.3301, 76.4% of the Jun 1 - Jul 27 downleg. A break of this level would open 19.50 and 19.9204, the Jun 1 high. Initial firm support lies at 18.5983, the 50-day EMA. Clearance of this level would expose 18.3828, the Aug 4 low.
  • 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 cleared and the focus is on 28.00 next. The 20-day EMA at 26.8354 represents the first key support.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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