USD/ZAR: Failure to reclaim 18.02/18.15 could prompt deeper drop – SocGen USDZAR Technical Analysis Banks
Below 17.35, next potential objectives could be at 16.93 and January low of 16.70
Daily MACD is within deep negative territory denoting an overstretched down move. A bounce can’t be ruled out however the MA near 18.02/18.15 is expected to provide resistance. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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