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CEEMEA FX Price Signal Summary - USDZAR Support Remains Intact

EMERGING MARKETS
  • The trend outlook in USDZAR is unchanged and remains bullish plus the recent pullback appears to be a correction. Key short-term support has been defined at 18.3805, the Aug 24 low. Clearance of this support would be a bearish development. On the upside, key short-term resistance at 19.2978, the Aug 15 high, has recently been pierced. A clear break of this hurdle would open 19.9204, the Jun 1 high. First support to watch is 18.6825.
  • The path of least resistance in USDTRY is unchanged and remains up. 25.2874, the Aug 24 low, has been defined as the key short-term support where a break is required to signal scope for a deeper pullback. On the upside, this week’s fresh cycle highs reinforce a bullish theme, the focus is on a climb towards 28.00.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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