Friday, October 16, 2026

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FxWirePro: South African rand gains 1 percent against US dollar, good to sell on rallies

Pair is currently trading at 14.81 marks. It made intraday high at 14.98 and low at 14.75 levels. Intraday bias remains bearish till the time pair holds key resistance level at 15.05 levels. Alternatively, current downwa…

By Cynthia Firey Eakin
1 min read
FxWirePro: South African rand gains 1 percent against US dollar, good to sell on rallies
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  • Pair is currently trading at 14.81 marks.
     
  • It made intraday high at 14.98 and low at 14.75 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance level at 15.05 levels.
     
  • Alternatively, current downward trend will drag the parity towards key support level at 14.64/ 14.26 levels.

We prefer to take short position in USD/ZAR around 14.87, stop loss 15.05 and target 14.64/ 14.26 levels thereafter.

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By FxWirePro Team