Forex - Chart USD/ZAR Update: Regaining higher levels


 13:55 (GMT) 13 Jan

  [Forex Charts]

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Chart USD/ZAR Update: Regaining higher levels (0101-QGGZ-C01)

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Asterisk denotes strength of level

13:40 GMT - The break below the 14.1250 break level has found fresh support at 14.1045, whilst daily studies continue to improve. Focus is now on the 14.3965 Fibonacci retracement. Improving weekly charts anticipate a close above here and continuation of the 2 January rally towards the 14.4909 low of September. Still higher is the 14.5075 retracement. Meanwhile, support is at 14.1045 and should underpin any immediate setbacks. A close beneath here, not seen, would negate higher levels and open up 14.0000. Risk would be for further slippage towards critical support at the 13.9260 low of 2 January.


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