Forex - Chart USD/ZAR Update: Short-term reactions before June bear trend extends


 10:32 (GMT) 12 Jul

  [Forex Charts]

Sample Premium Content
Chart USD/ZAR Update: Short-term reactions before June bear trend extends (0101-MTSX-C01)

See the data by clicking on the headline link...

Asterisk denotes strength of level

11:25 BST - The test of critical support at the 13.8641 low of April is giving way to consolidation as oversold intraday studies unwind. Immediate focus is on 14.0000, but any break should prove difficult to maintain, as both daily and weekly studies continue to point lower. A break below 13.8641 will open up the 13.7938 weekly low of 25 February, with the 13.6800 Fibonacci retracement thereafter. This latter level could promote fresh consolidation attempts. Meanwhile, an unexpected close above 14.0000 will delay downside tests and turn price action cautiously Neutral.


CurrenciesCountriesMarket Bulletins

Latest Currency Analysis

Available to subscribers only
Order Now