Economists at Credit Suisse mark the 16.50-16.55 area as a short-term level which USD/ZAR could fall to if global risk markets continue to rally. By contrast, renewed selloff in EM FX complex would likely take USDZ/AR back to its April range (17.81-19.36). TDS closed a long USD/ZAR position yesterday as the rand is well-supported Key quotes “Despite its aggressive decline so far, USD/ZAR still seems to us likely to fall further if global risk markets remain in a risk-on mode. In terms of risk-on levels we tend to think that a break below recent lows of 17.17-17.18 (from 25 March) will lead investors to eye the 16.50-16.55 area as a short-term target. “Following the logic that the rand is likely to remain primarily driven by sentiment in the global EM FX market, we think that a reversal of current investor bullishness in global markets remains the key risk for the rand at this point. We think that a renewed sell-off in the global EM FX complex would take USD/ZAR back to its April range (17.81-19.36).” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: At 1.38 by year-end in the best scenario – UBS FX Street 3 years Economists at Credit Suisse mark the 16.50-16.55 area as a short-term level which USD/ZAR could fall to if global risk markets continue to rally. By contrast, renewed selloff in EM FX complex would likely take USDZ/AR back to its April range (17.81-19.36). TDS closed a long USD/ZAR position yesterday as the rand is well-supported Key quotes “Despite its aggressive decline so far, USD/ZAR still seems to us likely to fall further if global risk markets remain in a risk-on mode. In terms of risk-on levels we tend to think that a break below recent lows of 17.17-17.18 (from 25 March)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.