The USDZAR experienced a volatile price range on Thursday and Friday of last week in the aftermath of the U.S Federal Reserve pronouncements and data reactions-
The USD/ZAR achieved a high of nearly 17.98200 on early Friday in the wake of better than expected U.S GDP numbers which showed economic conditions in the States are still demonstrating growth.
The stronger growth number from the U.S. on the following day countered the weaker USD sentiment momentarily However, bearish traders may notice technically the USD/ZAR is managing to remain under the 17.70000 ratio in the short term and this could prove to be important if this resistance level is proven durable. The lower price range of the USD/ZAR has been maintained.The USD/ZAR is correlating to the broad Forex market well and the currency pair has not been hit recently by concerns shadowing South Africa’s political and economic situation. The U.
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