Free Trial

CEEMEA FX Price Signal Summary - USDZAR Trend Needle Points North

EMERGING MARKETS
  • The trend outlook in USDZAR is unchanged and conditions remain bullish. The recent move down is considered corrective, however, a key support area around the 50-day EMA, at 18.9412, has been breached. The pair is trading above this average, but a clear bearish break 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 27.7325, the 20-day EMA. The 28.00 handle has been breached, this opens the 29.00 handle.

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.