Daily Market Updates: South African Rand: Gains against US Dollar at risk

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South African Rand: Gains against US Dollar at risk – Societe Generale

Reported · Written up by our desk · Major Pairs

Societe Generale analyzes USD/ZAR after its rebound above the 200-DMA, with an interim high near 16.75 and a current pullback towards 16.37. The bank stresses the importance of the pair holding above the 200-DMA, noting two failed attempts earlier this year. It highlights downside risks towards 16.27 and 16.15 if 16.37 breaks.

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FXStreetSouth African Rand: Gains against US Dollar at risk – Societe Generale

Forex

South African Rand: Gains against US Dollar at risk – Societe Generale

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