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- USD/ZAR is attempting a mild recovery on the day after sharp drop on Tuesday to 12.5219 levels
- The pair is currently trading at 12.5318, after recoveries were rejected by 12.5987
- Daily Stochs have crossed bearside but short term averages support the risk for a resumption of gains
- Immediate resistance is seen at 12.6385 (Hourly Resistance Jul 28), ahead of 12.6470 (Daily High Jul 28)
- On the flipside, supports lie at 12.5283 (Daily Low Jul 29), then at 12.4755 (10-Day MA)
R1: 12.6385 (Hourly Res. Jul 28)
R2: 12.6470 (Daily High Jul 28)
R3: 12.6900 (Daily High Jul 27)
Support levels:
S1: 12.5283 (Daily Low Jul 29)
S2: 12.4755 (10-Day MA)
S3: 12.4340 (21-Day MA)
