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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.
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Free AccessMNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday
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CEEMEA FX Price Signal Summary - USDZAR Trend Needle Points North
The USDZAR trend outlook remains bullish and the pair is trading closer to its latest highs. Recent gains confirmed a resumption of the uptrend that started in June 2021 and price has entered uncharted territory. Sights are on the psychological 20.00 handle next. Initial support is at 18.9945, the May 16 low. The trend is overbought. Short-term pullbacks would be considered corrective and would allow the overbought condition to unwind.
The path of least resistance in USDTRY is unchanged and remains up as the pair continues to climb. The 19.80 objective has been achieved and the focus shifts to the 20.00 psychological handle which has been tested. The 20-day EMA at 19.5971, marks the first support.
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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.