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CEEMEA FX Price Signal Summary - USDZAR Trades At An All-Time High

EMERGING MARKETS
  • The USDZAR trend outlook remains bullish and the latest appreciation has confirmed a resumption of the uptrend that started in June 2021 - former key short-term resistance at 18.7192, the Mar 8 high, has been cleared. The strong rally has also resulted in a break of 19.00 and more importantly resulted in a print above 19.3508, the Apr 6 2020 high, to trade at an all-time high. Sights are on the psychological 20.00 handle next. Support is seen at 18.5075, the May 2 high.
  • The path of least resistance in USDTRY is unchanged and remains up. The 19.60 objective has been achieved and the focus shifts to the 19.80 handle next. The 20-day EMA at 19.4419, marks the first support.

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