Free Trial

CEEMEA FX Price Signal Summary - USDZAR Trend Needle Points North

EMERGING MARKETS
  • The uptrend in USDZAR remains intact and the pair has traded higher this week. Price has recently cleared 17.3060, Jul 14 high. This highlights a resumption of the uptrend that started June 2021 and maintains the bullish price sequence of higher highs and higher lows. 17.9493, 76.4% of the 2020 - 2021 bear leg, has been breached. This opens 18.3777 next, the May 19 2020 high. Key short-term support is at 17.4454, the Sep 13 low.
  • USDTRY trend conditions remain bullish and the pair continues to appreciate. Price has cleared 18.3633, the Dec 20 2021 high and a key resistance. This opens 18.6000 next. The 20-day EMA, at 18.2778 is the initial firm support to watch.

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.