USD/ZAR Analysis Today - 15/07: Stable Trading Range (Chart)

(MENAFN- Daily Forex) The USD/ZAR has been able to demonstrate a lower price range, which is likely starting to get the attention of financial institutions which have not looked South Africa\u0026rsquo;s way in a while USD/ZAR exchange rate is near the 18.08225 ratio as of this writing, this after a reversal higher upon opening following the weekend, the move upwards was not violent and the USD/ZAR is showing signs of producing a price range financial institutions may believe is establishing a known equilibrium everything is wine and roses yet in South Africa, but the new coalition government has created optimism in the financial sector regarding potential Thursday of last week per the publication of U.S inflation data from the Consumer Price Index the USD/ZAR dropped to about the 17.95000 mark, on Friday the currency pair toyed with the 17.91400. A shift in behavioral sentiment regarding the U.S Federal Reserve has caused USD centric weakness. The ability of the USD/ZAR to traverse to lows late last week correlated with the broad Forex market. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, }); var Top5PanelSections = { Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, }USD/ZAR and Optimistic OutlooksSouth Africa still has economic hurdles it has to jump successfully to gain the trust of the international financial community, but South African bond purchases are increasing and financial institutions in the nation have seen a desire to discuss investing from abroad. The USD/ZAR has performed in a rather stable manner since the 5th of July when a momentary run higher flirted with the 18.22000 vicinity but then started to reverse lower the past week in the USD/ZAR is starting to show an incremental decrease. The run higher early this morning after touching lows going into the weekend can be viewed as a normal trading environment. The 18.12000 level may be seen as resistance by some traders with a wide short-term perspective, but if trading in the USD/ZAR remains under the 18.10000 ratio this might signal more selling is being considered by financial institutions. Trading reversals will definitely be seen higher, but the price action in the currency pair has looked almost comfortable as optimistic sentiment grows/ZAR Short and Mid-Term Speculative FlavorsThe lower depths tested by the USD/ZAR may feel too ambitious for conservative traders. Looking for quick hitting moves lower that test nearby support levels may prove to be a more tempting flavor for speculative tastes 18.06000 to 18.04000 ratios may prove to be targets for retail traders who have a bit of patience, but want their take profits orders able to cash out fast performing trades Empire State Manufacturing Index will be released from the U.S today; tomorrow Retail Sales figures are on the schedule these reports come in weaker than expected it could spur on more USD selling/ZAR Short Term Outlook:Current Resistance: 18.08990Current Support: 18.06100High Target: 18.13200Low Target: 18.01100

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