USD/ZAR stays pressured near two-month low of 17.52. April-end low, the monthly resistance line add to the upside barriers. A confluence of 100-day EMA, rising trend line from late-January keeps buyers hopeful. USD/ZAR drops to 17.59, down 0.27% on a day, amid Tuesday’s Asian session. Having slipped below April 30 low during the previous day, the pair currently stays under 50-day EMA for the fourth consecutive day, which in turn portrays its weakness. As a result, sellers may aim for 38.2% Fibonacci retracement of January-April upside, at 17.28 while a joint of 100-day EMA and a four-month-old ascending support line, at 17.08 now, can challenge the bears then after. It’s worth mentioning that a daily closing beyond 50-day EMA, currently around 17.88, will need to cross late-April low of 18.02 ahead of confronting the monthly resistance line nearing 18.48. In a case where the bulls manage to cross 18.48 level on daily closing, they can challenge 19.00 round-figure while crossing the monthly high of 18.96. USD/ZAR daily chart Trend: Further declines expected 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 Hong Kong Leader Carry Liam: No need to worry about rights and freedoms FX Street 3 years USD/ZAR stays pressured near two-month low of 17.52. April-end low, the monthly resistance line add to the upside barriers. A confluence of 100-day EMA, rising trend line from late-January keeps buyers hopeful. USD/ZAR drops to 17.59, down 0.27% on a day, amid Tuesday’s Asian session. Having slipped below April 30 low during the previous day, the pair currently stays under 50-day EMA for the fourth consecutive day, which in turn portrays its weakness. As a result, sellers may aim for 38.2% Fibonacci retracement of January-April upside, at 17.28 while a joint of 100-day EMA and a four-month-old ascending support line,… 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.
