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EMERGING MARKETS: CEEMEA FX Price Signal Summary - USDZAR Heads South

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR is softer and has traded lower again, today. The pair is through support at 17.5965, the Aug 30 low. The clear break of this level confirms a range breakout and a resumption of the current downtrend. This opens 17.4193, the Jul 27 ‘23 low and the next key support. Initial firm resistance is seen at 18.0041, the 50-day EMA. A clear break of the average would signal a potential reversal. First resistance is 17.8329, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs would highlight a resumption of the trend. Sights are on 35.00. Initial support lies at 33.9217, the 20-day EMA. Support at the 50-day EMA, lies at 33.5849.
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  • USDZAR is softer and has traded lower again, today. The pair is through support at 17.5965, the Aug 30 low. The clear break of this level confirms a range breakout and a resumption of the current downtrend. This opens 17.4193, the Jul 27 ‘23 low and the next key support. Initial firm resistance is seen at 18.0041, the 50-day EMA. A clear break of the average would signal a potential reversal. First resistance is 17.8329, the 20-day EMA.
  • The path of least resistance in USDTRY is unchanged and remains up. Fresh cycle highs would highlight a resumption of the trend. Sights are on 35.00. Initial support lies at 33.9217, the 20-day EMA. Support at the 50-day EMA, lies at 33.5849.