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CEEMEA FX Price Signal Summary - USDZAR Trend Needle Points North

EMERGING MARKETS
  • The trend outlook in USDZAR remains bullish and the recent recovery reinforces this theme. A key short-term support has been defined at 18.3805, the Aug 24 low. Initial firm support lies at 18.7022, the 50-day EMA. Key short-term resistance at 19.2978, the Aug 15 high, has been pierced. Clearance of this hurdle would open 19.9204, the Jun 1 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. On the upside, clearance of the early Aug high at 27.3069 would confirm a resumption of the primary uptrend.

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