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CEEMEA FX Price Signal Summary - USDZAR Support Remains Intact - For now

EMERGING MARKETS
  • USDZAR key short-term support lies at 16.7815, the Jan low. A break of this level would confirm a resumption of the downtrend and pave the way for a move towards 16.7102, the Aug 25 low. Moving average studies are in a bear mode position and this highlights a dominant bear cycle. Initial firm resistance is at 17.4343, last Friday’s high.
  • The primary trend direction in USDTRY is unchanged and remains up. The 18.7000 handle has been breached and the focus is on the 18.8000 handle next. The 20-day EMA, at 18.7063, marks the first support.

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