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USD/ZAR Today 14/10: Correlated Trading Range (Chart)
(MENAFN- Daily Forex)
- The USD/ZAR is near the 17.42200 ratio as of this writing.
- Interestingly, the USD/ZAR was around the same level this time last week early on Monday.
- The USD/ZAR did climb to a high of nearly 17.67700 on Wednesday, but after the near-term apex was achieved started to incrementally selloff and by Friday saw a steady amount of trading near the 17.48000 mark, until U.S PPI inflation data was released.
- The USD/ZAR trading early this morning to slightly lower levels may signal some financial institutions believe the currency pair should be moving downwards.
- The U.S will be relatively light with economic data this week. U.S Retail Sales and Housing data will be seen later this week.
- But most traders are now focusing on the approaching U.S election and Federal Reserve meeting which will follow in the first week of November.
- Short-term traders may be able to take advantage of nearby technical support levels which may be attractive as targets for sellers in the USD/ZAR.

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