US Dollar/South African Rand (USD/ZAR) Exchange Rate
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Vital support levels within the USD/ZAR have been punctured and the Forex pair may be prepared to challenge long-term bearish targets.
The USD/ZAR remains within the higher realms of its short-term trading range, but resistance levels have displayed rather durable capabilities.
The USD/ZAR has traded higher this morning, but this has occurred after the Forex pair tested lower targets before going into the weekend.
USD/ZAR: Challenge of Support Creates Fresh Rand Price Range
The USD/ZAR has moved slightly higher in the past day and is traversing rather intriguing short-term resistance levels.
The USD/ZAR remains locked within a durable trading range and speculators who like to trade with quick-hitting positions may enjoy the current conditions.
The USD/ZAR remains transfixed within the lower depths of its value range, but a tight range the past few days of trading has emerged.
After busting through important support levels on Thursday of last week, the USD/ZAR is consolidating and its next speculative battle looms.
The past five days of trading within the USD/ZAR have produced choppy results as key support levels remain firm.
The USD/ZAR has maintained its bearish stance and has seen some consolidation the past couple of days as support is tested.
Short-term support levels have been brushed aside as the USD/ZAR has demonstrated that its bearish trajectory can still be contemplated.
The US dollar has initially fallen during the trading session on Friday again against the South African Rand, reaching towards the 14.50 Rand level before turning around and rally in a bit.
The USD/ZAR has been able to produce a rather tight range the past couple of days, but important support levels are being tested.
USD/ZAR: Reversals Remain Key Element for South African Rand
The USD/ZAR is straddling the 15.00000 ratio as traders are being forced to contemplate their short-term sentiment.
The USD/ZAR has produced a reversal higher since hitting lower values on the 17th of March, and short-term resistance levels are being challenged.
The USD/ZAR moved swiftly lower yesterday and took the Forex pair to mid-term support levels which should not be a surprise to traders.
The USD/ZAR has traded lower again as the week has begun, but a short-term battle is being waged as the Forex pair tries to establish stronger direction.
The USD/ZAR has seen a strong dose of bearish momentum generated in early trading today, which likely was invigorated by the past two days of results.
The USD/ZAR is trading near important mid-term resistance levels as the Forex pair’s trend produces nervous technical conditions.