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RobbyP
Sep 8, 2023 8:14 AM

USDZAR- Dollar weakness creeping in Short

U.S. Dollar/South African RandFXCM

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This is the second time the pair finds resistance at around 19.30. Momentum has started to shift and this time it is dollar weakness rather than Rand strength. Coming out of over-bought territory now with some proper selling pressure overnight, I expect a ZAR rally back to test at least 18.50 from here. This looks like a nice little USD short opportunity for around 60c over the weekend
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