Forex - Chart USD/ZAR Update: Poised to break below the 14.6500 Fibonacci retracement


 10:15 (GMT) 10 Sep

  [Forex Charts]

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Chart USD/ZAR Update: Poised to break below the 14.6500 Fibonacci retracement (0101-PCST-C01)

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Asterisk denotes strength of level

11:10 BST - USD/ZAR remains under pressure, with prices currently balanced above the 14.6500 Fibonacci retracement. However, mixed intraday studies are turning down, and with daily readings also negative, fresh downside risks are looked for in the coming sessions. A close beneath here will confirm continuation of the August fall and open up the 14.5600 low of 2 August and congestion around 14.5000. Meanwhile, resistance is up to the 14.9000~ recent highs. A close above here would turn sentiment cautiously Neutral, and prompt consolidation beneath 15.1000.


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