The USDZAR uptrend remains intact and the latest rally reinforces this condition. This week’s gains have resulted in a break of resistance at 18.5815, the Oct 13 2022 high. This confirms a resumption of the uptrend and maintains the positive price sequence of higher highs and higher lows and opens the 19.00 handle. Key support has been defined at 18.0825, the Mar 23 low.
The primary trend direction in USDTRY is unchanged and the path of least resistance remains up. The 18.9000 handle has been breached and potential is seen for a climb towards 19.00. The 20-day EMA at 18.8643, marks the first support.

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Taso Anastasiou

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CEEMEA FX Price Signal Summary - USDZAR Uptrend Remains Intact