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CEEMEA FX Price Signal Summary - Watching Support In USDZAR

EMERGING MARKETS
  • USDZAR has pulled back from its recent highs and the pair has traded lower today. A bullish outlook remains intact and the latest move down is considered corrective - for now. Key support has been defined at 18.7622, the Feb 21 low. A break of this level would alter the picture. A resumption of gains and a move above 19.3899, the Feb 23 high, would pave the way for a climb towards 19.6399, the Oct 6 ‘23 high.
  • The path of least resistance in USDTRY is unchanged and remains up as the USD continues to appreciate against TRY. Initial support lies at 30.9454, the 20-day EMA. The 31.00 handle has been cleared, the focus is on 32.00.

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