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CEEMEA FX Price Signal Summary - USDZAR Trades Through The 50-Day EMA

  • The trend outlook in USDZAR is unchanged and remains bullish. The latest move lower is considered corrective, however, a key support area around the 50-day EMA, at 18.9311, has been breached. A clear break of this average would signal scope for a deeper retracement and expose 18.3805, the Aug 24 low. Key resistance and the bull trigger is at 19.6399, the Oct 6 high.
  • 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. Initial support lies at 27.4917, the 20-day EMA. Sights are on the 28.00 handle.

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