OANDA:USDZAR   U.S. Dollar / South African Rand
USD/ZAR
This last week saw considerable depreciation in the ZAR against the dollar, surrendering around 3.34% (taken at 18:00 CAT, Friday). A noticeable move was witnessed on Thursday which continued into Friday but later that day retraced off the intra-day high above 15.38.

This coming week could see a retracement towards the 15.00 psychological level but much of this depends on the level of USD appeal as riskier markets such as EM markets and major equity markets also experienced a sizeable sell off.

15.38 remains the most relevant level of resistance if the current trend is to continue with 15.57 and 15.70 the further upside resistance targets.
Trade closed: target reached: Am looking for buy opportunity now we back at out support level.

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