Free Trial

CEEMEA FX Price Signal Summary - USDZAR Trend Needle Still Points North

EMERGING MARKETS
  • The trend condition in USDZAR remains bullish and the pair is trading closer to its recent highs. On Oct 12 / 13, price traded to a fresh trend high and breached resistance at 18.2214, the Sep 28 high. This maintains a bullish sequence of higher highs and higher lows and reinforces the uptrend. A resumption of the bull cycle would open the 19.00 handle. Key short-term support lies at 17.5709, the Oct 4 low. Initial support is at 17.9496, the Oct 18 low.
  • USDTRY trend conditions remain bullish and the pair is trading at its recent highs. The 18.6000 handle has recently been breached and a continuation higher would open 18.70 and beyond. The 20-day EMA, at 18.5228 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.