- South African rand has fallen to 14 year low against USD as china devalues its currency to support a stuttering economy.
- Rand falls 0.6% against dollar to new 14 year low of 12.88 today.
- The step by Chinese central bank to devalue currency has led the rand along with EM currencies to weaken sharply.
- Technically rand has broken major resistance 12.86 (12th Aug high) and jumped till 12.88.
- Any further break above 12.88 will target 12.96/13 in short term.
- Short term trend reversal only below 12.73 and any break below will drag the pair further down till 12.59/12.44.
- Overall trend reversal only below 11.80 level.
It is good to buy at dips around 12.80 with SL around 12.70 for the TP of 12.96/13


FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD gains some upside momentum, but outlook is bearish
FxWirePro: NZD/USD drifts lower as markets await US inflation data
FxWirePro: USD/ZAR edges higher after weak SA jobs and manufacturing data
FxWirePro : USD/JPY holds near 160 as yen remains under pressure
FxWirePro: GBP/AUD edges lower, remains on bearish path
FxWirePro: AUD/USD in holding pattern as market await fresh catalyst
FxWirePro: USD/ZAR eyes downside as dollar eases after US CPI data
FxWirePro: NZD/USD slips as geopolitical and domestic political risks weigh
JPY Majors Alert: NZDJPY Crashes to 92.81 Low as Brutal Bearish Momentum Explodes – Sell Rallies to 91.80
FxWirePro: GBP/USD trades sideways as markets await U.S. inflation and UK GDP data
FxWirePro: USD/CAD firms slightly, but downward resumption looks likely
FxWirePro- Major Pair levels and bias summary
Major Crypto Pair Crypto Score: BNBUSD Extremely Bullish at 100, Dominating as XRPUSD Turn Deeply Bearish
FxWirePro: EUR/AUD bears maintain upper hand 



