EMERGING MARKETS: CEEMEA FX Price Signal Summary - Corrective USDZAR Cycle

* A bear cycle in USDZAR remains intact and short-term gains are considered corrective - for now. However, resistance at the 50-day EMA currently at 16.2316, has been breached. A clear break of the average is required to signal a stronger near-term reversal. This would open 16.5327 initially, the Aug 4 high. For bears, key support and the bear trigger has been defined at 15.9002, the Aug 26 low. A break of this level would confirm a resumption of the bear cycle. * The path of least resistance in USDTRY is unchanged and remains up. The pair has crossed the 48.00 handle and this paves the way for a climb towards 49.00. A reliable trend support lies at 48.4773, the 20-day EMA.