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USD/ZAR Analysis Today 13/01: Values Hit Highs (Chart)
(MENAFN- Daily Forex)
- The USD/ZAR as of this writing is near the 19.17000 ratio with fast fluctuations being displayed.
- Traders are advised to use entry price orders to wager on the currency pair as volatility is abundant.
- The USD/ZAR is traversing above the 19.00000 level for the first time since April 2024. Ladies and gentlemen, this means the currency pair is above values seen when the South African election took place in June 2024.
- Technical ratios above the 19.17000 level look high and will likely spark attempts seeking reversals lower.
- The USD/ZAR above 19.00000 may feel wrong, but it is a clear sign global traders are worried about USD strength.
- Looking for lower values is tempting but should be done with extreme cautious and solid risk taking tactics in the USD/ZAR.
- Current Resistance: 19.18100
- Current Support: 19.15900
- High Target: 19.20010
- Low Target: 19.09900

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