USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.
Tag - zar
Pay attention to the currency pair USD/ZAR. It has been consolidating between 15.10 and 15.50 since the start of August.
USD/ZAR rebounded from the 200-day MA at 14.18 and went up through the 100- and 50-day MAs.
The GBP continues to fall, what else is important?
What is important today?
USD/ZAR has recently breached down the support line from February lows.
What’s going on in the world of emerging market currencies? Let’s find out.
Check the levels for EUR/USD, USD/ZAR and oil
It looks like USD/ZAR has overdone its increase in the short-term.
The South African currency has weakened on Tuesday. As a result, the USD/ZAR pair has tested its March’s highs near the 14.63 level.
USD/ZAR met the resistance of the line connecting September, March and May highs in the 14.50 area.
South Africa is holding its biggest elections today since the dawn of the democracy.