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FxWirePro: USD/ZAR rises above 1.8000 as rand falls in risk-off move after Russia warning

• USD/ZAR strengthened on Tuesday   as investors pulled back from riskier assets following heightened tensions between Russia and the United States over Ukraine.

• On Tuesday, President Putin approved an updated nuclear doctrine, designed to make potential adversaries recognize the inevitability of retaliation for any attack on Russia or its allies.

• This sparked a shift in investor sentiment, driving demand for safe-haven currencies like the U.S. dollar.

 At GMT 14:25, the pair was trading up 0.59 percent  at 18.051  after reaching daily high at 18.167.

• Immediate resistance is located at 18.119 (38.2%fib), any close above will push the pair towards 18.175(Daily high).

• Strong support is seen at 17.902 (50%fib) and break below could take the pair towards 17.861(SMA 11).

Recommendation: Good to buy around 18.000 with stop loss of 17.800 and target price of 18.250
 

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