Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR bulls gear up for next leg higher, eyes 1.8350 level

• USD/ZAR rose on Friday as dollar firmed as markets digested the U.S. Federal Reserve's decision  maintained a cautious stance on rate cuts.

•The South African Reserve Bank (SARB) central bank left its main interest rate unchanged , keeping the repo rate at 7.50%

• The risk-sensitive rand has been hit by a national budget deadlock, U.S. tensions, and uncertainty over Trump’s tariffs.

 At GMT 15:44, the pair was trading up 0.34 percent  at 18.206 .

• Immediate resistance is located at 18.278  (March 19th high), any close above will push the pair towards 18.408 (38.2%fib).

• Strong support is seen at 18.099(50%fib) and break below could take the pair towards 17.997 (Lower BB).

Recommendation: Good to buy around 18.200 with stop loss of 18.100 and target price of 18.350

FastComments.com
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.