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EMERGING MARKETS: CEEMEA FX Price Signal Summary - Bear Threat In USDZAR

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR continues to trade inside a range. For now, a bear threat remains present. The break lower in August confirmed a resumption of the downtrend and maintains the bullish price sequence of lower lows and lower highs. This paves the way for an extension towards 17.5713, the Jul 28 ‘23 low and 17.4193, the Jul 27 ‘23 low and the next key support. Initial firm resistance is seen at 18.0491, the 50-day EMA. Short-term gains are considered corrective, however, a clear break of the EMA would undermine a bearish theme and open 18.2633, the Aug 13 high.                                            
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 34.00 handle. This opens 35.00. Initial support lies at 33.8907, the 20-day EMA. Support at the 50-day EMA, lies at 33.5311.
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  • USDZAR continues to trade inside a range. For now, a bear threat remains present. The break lower in August confirmed a resumption of the downtrend and maintains the bullish price sequence of lower lows and lower highs. This paves the way for an extension towards 17.5713, the Jul 28 ‘23 low and 17.4193, the Jul 27 ‘23 low and the next key support. Initial firm resistance is seen at 18.0491, the 50-day EMA. Short-term gains are considered corrective, however, a clear break of the EMA would undermine a bearish theme and open 18.2633, the Aug 13 high.                                            
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend, and the pair has breached the 34.00 handle. This opens 35.00. Initial support lies at 33.8907, the 20-day EMA. Support at the 50-day EMA, lies at 33.5311.