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TECHS: Price Signal Summary - USD Remains Soft

EM FX
  • Rand appreciation is likely to extend and USDZAR looks set to challenge the recent low of 14.88, Sep 12 low. A break would open 14.7742, 1.00 projection of the Apr 6 - Jun 10 decline from the Aug 8 high. The 20-day EMA at 15.2585, is resistance.
  • USDBRL however has rebounded today as an oversold trend condition attempts to unwind. Continued gains would open 5.1969, Dec 9 high.
  • In CEE, USDPLN is trading at recent lows. Last week's important technical break was the move through 3.6559, Sep 1 low confirming fresh lows for the year. This has opened 3.6211, Sep 26 low. USDHUF remains weak. Bears have their sights set on the key support at 289.15, Aug 6 low. A break would open 282.66, 61.8% of the 2018-2020 uptrend.
  • USDTRY has settled in a range. Key short-term bull triggers have been defined at 8.0470 resistance, Nov 24 high and 7.7440 support, Nov 30 low.

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