The USD/ZAR pair revisits the 14.5044 December low below which meander moving averages at 14.4264/3563, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “USD/ZAR has been trading in a tight range above its 14.5044 December trough over the past few weeks. Between this level and the 200-week and 55-month moving averages at 14.4264/3563, we expect the cross to at least short-term stabilise.” “Were a drop below the 55-month moving average at 14.3563 to occur, however, April 2017 high and January 2020 low at 13.9579/9323 would be targeted. We expect this to happen over the coming weeks but not straight away.” “Minor resistance sits between the 14.8799 December 9 low and the 14.9119 December 21 high and more resistance at the 15.4966/7362 November 12 and 30 highs. Strong resistance comes in between the June and October lows at 16.0838/3613.” 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 starts 2021 at new all-time high near 3,770 FX Street 11 months The USD/ZAR pair revisits the 14.5044 December low below which meander moving averages at 14.4264/3563, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports. Key quotes “USD/ZAR has been trading in a tight range above its 14.5044 December trough over the past few weeks. Between this level and the 200-week and 55-month moving averages at 14.4264/3563, we expect the cross to at least short-term stabilise.” “Were a drop below the 55-month moving average at 14.3563 to occur, however, April 2017 high and January 2020 low at 13.9579/9323 would be targeted. We expect this to happen over the coming weeks but… Top 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.
