- Analytics
- News and Tools
- Market News
- USD/ZAR: Potential return towards highs of August/September at 19.27/19.30 – SocGen
USD/ZAR: Potential return towards highs of August/September at 19.27/19.30 – SocGen
USD/ZAR skipped back above the 200-DMA at 18.63. Economists at Société Générale analyze the pair’s outlook.
18.50 is first support
USD/ZAR recently tested the ascending trend line drawn since April 2022 near 18.10 resulting in a sharp rebound. It has moved beyond 200-DMA and recent pivot high.
Daily MACD is in negative territory, but it has crossed above its trigger line denoting receding downward momentum.
A retest of graphical levels near 19.27/19.30 representing highs of August/September is likely.
18.50, the 50% retracement of recent bounce is first support.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
