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USD/ZAR Analysis Today: Sideways With Spikes (Chart)
(MENAFN- Daily Forex)
Traders should not get overly ambitious and use take profit orders when targets appear.
The upside seen in the USD/ZAR over the past couple of weeks may appear overbought, but traders should not expect a large correction downwards to take place quite yet/ZAR Short Term Outlook:Current Resistance: 17.65400Current Support: 17.63100High Target: 17.69800Low Target: 17.57200Ready to trade our
daily Forex forecast ? Here's some of the
best trading platforms in South Africa
to check out.
- In the past couple of days the USD/ZAR has traded slightly lower and is maintaining what can be argued to be a sideways trajectory as caution takes hold of Forex markets.
- The USD/ZAR is trading near the 17.64350 ratio with fast bid and ask fluctuations being demonstrated. The USD/ZAR touched a high of nearly 17.80050 in a quick hitting manner on Thursday, only to see a swift reversal lower and sustained prices near 17.60000 going into the weekend.
- The USD/ZAR started out last week's trading near the 17.58500 mark.
Traders should not get overly ambitious and use take profit orders when targets appear.
The upside seen in the USD/ZAR over the past couple of weeks may appear overbought, but traders should not expect a large correction downwards to take place quite yet/ZAR Short Term Outlook:Current Resistance: 17.65400Current Support: 17.63100High Target: 17.69800Low Target: 17.57200Ready to trade our
daily Forex forecast ? Here's some of the
best trading platforms in South Africa
to check out.

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