Thursday, October 15, 2026

Technicals

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FxWirePro: South African rand erases previous loss against US dollar, down side limited

USD/ZAR is currently trading around 15.5382 levels. It made intraday high at 15.6421 and low at 15.5203 levels. Intraday bias remains slightly bearish for the moment but down side is limited as 20D, 30D and 55D EMA heads…

By Cynthia Firey Eakin
1 min read
FxWirePro: South African rand erases previous loss against US dollar, down side limited
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  • USD/ZAR is currently trading around 15.5382 levels.
     
  • It made intraday high at 15.6421 and low at 15.5203 levels.
     
  • Intraday bias remains slightly bearish for the moment but down side is limited as 20D, 30D and 55D EMA heads up and confirms bullish trend.
     
  • A daily close below 15.4908 will drag the parity down towards key support at 14.9771 (20D, 30D and 55D EMA crossover) levels.
     
  • Alternatively, reversal from key support will take the parity higher towards key resistances around 15.86(February 29, 2016 high) and 16.15 marks respectively.

We prefer to take long position in USD/ZAR around 15.52, stop loss 15.37 and target 15.98/ 16.15 marks.

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By FxWirePro Team