- 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: GBP/AUD idles around 1.9230 as market awaits fresh catalysts
FxWirePro: AUD/USD edges higher but bearish outlook persists
FxWirePro:NZD/USD treads water as Iran uncertainty keeps traders on edge
FxWirePro: EUR/AUD consolidating around 1.6650, room for further gains
FxWirePro: GBP/USD drifts lower , could be on verge of bigger drop
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Crypto levels and bias summary
Sterling’s Steady Ascent: GBPJPY Tests the 213.31 Resistance Amid a Two-Week Consolidation
FxWirePro- Major Pair levels and bias summary
NZDJPY in Consolidation: Navigating the 92.00 Range as Bearish Clouds Gather
FxWirePro- Major European Indices
FxWirePro: GBP/NZD continues to recovers , upside pressure builds
FxWirePro- Major Crypto levels and bias summary
AUDJPY Stalls in Neutral Ground: Bearish Shadows Loom Over the 111.00 Mark
FxWirePro: USD/CNY edges up as yuan weakens on firmer dollar 



