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EMERGING MARKETS: CEEMEA FX Price Signal Summary - USDZAR Tests Support

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • USDZAR is softer and is testing support at the bottom of its recent range. The level to watch is 17.5965, the Aug 30 low.
    A clear break of this level would confirm a range breakout and a resumption of the current downtrend. This would signal scope for weakness 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 18.0199, the 50-day EMA. A clear break of the EMA would signal a potential reversal. First resistance is 17.8554, 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 33.9041, the 20-day EMA. Support at the 50-day EMA, lies at 33.5643.
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  • USDZAR is softer and is testing support at the bottom of its recent range. The level to watch is 17.5965, the Aug 30 low.
    A clear break of this level would confirm a range breakout and a resumption of the current downtrend. This would signal scope for weakness 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 18.0199, the 50-day EMA. A clear break of the EMA would signal a potential reversal. First resistance is 17.8554, 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 33.9041, the 20-day EMA. Support at the 50-day EMA, lies at 33.5643.