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FxWirePro: USD/ZAR remains supported just above 14.64, a break below targets 14.26

  • Pair is currently trading at 14.70 marks.
     
  • It made intraday high at 14.75 and low at 14.68 levels.
     
  • Intraday bias remains neutral till the time pair holds key support level at 14.64 levels.
     
  • Alternatively, current downward trend will drag the parity towards key support level at 14.26/13.91 levels.
     
  • On the other side, reversal from 14.64 will take the parity higher towards 14.92/ 15.16 marks respectively.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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