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CEEMEA FX Price Signal Summary - USDZAR Trendline Support Remains Exposed

EMERGING MARKETS
  • The short-term trend condition in USDZAR remains bearish and the pair is trading at this week’s lows. Attention is on a key trendline support that intersects at 17.1763. The trendline is drawn from the Apr 13 low. A clear break of this line would strengthen bearish conditions, and pave the way for a move to 16.9818 initially, the Sep 13 low. Initial firm resistance is at 17.8886, the 20-day EMA.
  • The primary trend direction in USDTRY is unchanged and remains up. The 18.6000 handle has recently been breached and a continuation higher would open 18.70 and beyond. The 50-day EMA, at 18.4246 marks support for now.
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