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EMERGING MARKETS: CEEMEA FX Price Signal Summary - Bullish USDZAR Structure

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR has pulled back from its most recent highs. However, a bullish theme remains intact. Recent gains resulted in a breach of resistance at 17.8681, the Oct 23 high, and 18.0138, the Sep 12 high. The break higher highlights a short-term reversal. Price is also through the 20- and 50-day EMAs - a bullish development. A resumption of gains would open the 18.50 handle and 18.6850, the Aug 5 high. Key support lies at 17.2711, the Nov 7 low. Initial firm support is seen at 17.9092, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend. Sights are on 35.00. Support at the 20-day EMA, lies at 34.3848.
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  • USDZAR has pulled back from its most recent highs. However, a bullish theme remains intact. Recent gains resulted in a breach of resistance at 17.8681, the Oct 23 high, and 18.0138, the Sep 12 high. The break higher highlights a short-term reversal. Price is also through the 20- and 50-day EMAs - a bullish development. A resumption of gains would open the 18.50 handle and 18.6850, the Aug 5 high. Key support lies at 17.2711, the Nov 7 low. Initial firm support is seen at 17.9092, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs highlight a resumption of the trend. Sights are on 35.00. Support at the 20-day EMA, lies at 34.3848.