Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR trends higher, but faces potential pitfalls decision

• USD/ZAR steadied  on Friday as  U.S. dollar continued gain against emerging, commodity and risk currencies.

• U.S. dollar  was boosted by haven buying as well as expectations that Trump's America-first policies would boost growth and inflation.

• South African interest rates were cut 25-basis points Thursday. The move was expected but still injected a fresh bid into USD/ZAR.

 At GMT 14:13 the pair was trading up 0.26 percent  at 18.101.

• Immediate resistance is located at 18.180(38.2%fib), any close above will push the pair towards 18.306(Nov 25th high).

• Strong support is seen at 18.053(5SMA) and break below could take the pair towards 17.981(38.2%fib).

Recommendation: Good to buy around 18.080 with stop loss of 17.980 and target price of 18.250

  • Market Data
Close

Welcome to EconoTimes

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