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CEEMEA FX Price Signal Summary - Watching Resistance In USDZAR

EMERGING MARKETS
  • USDZAR remains below its most recent high. The pair traded higher last week, resulting in a break of resistance at 18.8057, the Nov 10 high. A clear break of this level would be seen as a bullish short-term development and signal scope for a stronger recovery towards 19.2710, the Oct 26 high. On the downside, the short-term bear trigger lies at 18.1117, the Nov 15 low. Clearance of this level would instead strengthen a bearish threat and open 17.9434 next, the 76.4% retracement of the Jul 27 - Oct 6 bull phase.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 28.5949 the 20-day EMA. The focus is on the 29.00 handle.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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