USD/ZAR struggles to keep the bounce off 16.99. Sustained weakness below the key EMA pushes the bears towards one-month-old horizontal support. Buyers will have 50-day EMA as an additional upside barrier to justify their strength. USD/ZAR takes rounds to 17.05 during the early Thursday morning in Asia. The pair recently broke a two-week-old trading range while slipping below 100-day EMA, which in turn dragged it to the lowest levels since June 16. However, bullish MACD signals and 17.00 round-figure seem to offer pullback moves to the quote off-late. As a result, the sellers will wait for a clear break below 17.00 while keeping eye on the 16.90/85 horizontal support, comprising multiple highs and lows marked from June 03. If at all the bears dominate below 16.85, 16.67 and 200-day EMA level of 16.39 will be the strong supports to watch before June month’s bottom of 16.33. On the contrary, buyers will re-enter once the pair successfully crosses a 100-day EMA level of 17.11. Though, 50-day EMA near 17.40 could keep challenging further upside moves. It’s worth mentioning that the previous monthly top close to 17.55 also offers the key resistance past-17.40 USD/ZAR daily chart Trend: Bearish 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 S&P 500 Price Analysis: Bombs away, perhaps not too far away FX Street 3 years USD/ZAR struggles to keep the bounce off 16.99. Sustained weakness below the key EMA pushes the bears towards one-month-old horizontal support. Buyers will have 50-day EMA as an additional upside barrier to justify their strength. USD/ZAR takes rounds to 17.05 during the early Thursday morning in Asia. The pair recently broke a two-week-old trading range while slipping below 100-day EMA, which in turn dragged it to the lowest levels since June 16. However, bullish MACD signals and 17.00 round-figure seem to offer pullback moves to the quote off-late. As a result, the sellers will wait for a clear break below… 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.
