CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary - USDZAR Tests Resistance At The 50-Day EMA

EMERGING MARKETS
  • Last week’s recovery in USDZAR appears to be a correction - for now - and a bearish threat remains present. The recent break of support at 18.6945, the Oct 18 low, and the recent move through the 50-day EMA, strengthened a bearish theme. Moving average studies are in a bear mode position too. The break lower has exposed the 18.00 handle and 17.9434, 76.4% of the Jul 27 - Oct 6 bull phase. On the upside, initial key resistance has been defined at 19.2710, the Oct 26 high. Note that the pair is testing resistance at the 50-day EMA, at 18.8009. A clear break of this average would threaten the bearish theme.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.2527, the 20-day EMA. The focus is on the 29.00 handle.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.