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

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR traded lower last week and the pair continues to head south. Price 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. 17.4193, the Jul 27 ‘23 low has also been breached. A continuation lower would open 17.1388 next, the 1.00 projection of the 1 Jun - Jul 27 - Oct 6 2023 price swing. Initial firm resistance is seen at 17.9457, the 50-day EMA. A clear break of the average would signal a potential reversal. First resistance is 17.7426, 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. Initial support lies at 33.9610, the 20-day EMA. Support at the 50-day EMA, lies at 33.6399.
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  • USDZAR traded lower last week and the pair continues to head south. Price 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. 17.4193, the Jul 27 ‘23 low has also been breached. A continuation lower would open 17.1388 next, the 1.00 projection of the 1 Jun - Jul 27 - Oct 6 2023 price swing. Initial firm resistance is seen at 17.9457, the 50-day EMA. A clear break of the average would signal a potential reversal. First resistance is 17.7426, 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. Initial support lies at 33.9610, the 20-day EMA. Support at the 50-day EMA, lies at 33.6399.