The USD/ZAR continues to linger within the lower depths of its mid-term price range having accomplished a bearish trend the past four weeks.
continues to linger within the lower depths of its mid-term price range having accomplished a bearish trend the past four weeks.On Wednesday of last week, the USD/ZAR was trading near the 17.27000 ratio when a storm of selling took place and eventually had the currency pair around the 16.92000 mark on Thursday. However, before going into the weekend a solid amount of buying took place and the USD/ZAR was above 17.00000 again but the volume was rather thin.
The reaction higher early today is also likely due to the acknowledgment the USD/ZAR had a very solid downward price velocity on Wednesday. The rise back above this value however shows the South African Rand has many challenges of its own. The South African economy is still being mismanaged and suffering from a serious amount of corruption. The move lower in the USD/ZAR is largely based on the weakened USD.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Most Americans Turn Extremely Bearish on BitcoinU.S. adults think that the largest cryptocurrency will be trading below the $12,000 in six months from now
Read more »
USD/JPY Price Analysis: Bearish around mid-138.00s inside fortnight-old triangleUSD/JPY Price Analysis: Bearish around mid-138.00s inside fortnight-old triangle – by anilpanchal7 USDJPY Technical Analysis ChartPatterns SupportResistance SwingTrading
Read more »
EUR/USD Price Analysis: Bounces off 50-SMA but stays bearish below 1.0440 hurdleEUR/USD Price Analysis: Bounces off 50-SMA but stays bearish below 1.0440 hurdle – by anilpanchal7 EURUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
“Black Swan” Author Says Coinbase Is WorthlessThe “Black Swan” author predicts that $COIN will not recover even if the crypto industry gets back on its feet
Read more »
USD/JPY Technical Analysis: Breaking the General Trend ContiIn the near term and according to the performance on the hourly chart, it appears that the USDJPY is trading within the formation of a sharp descending channel.
Read more »
No. 1 Georgia finishes strong to remain undefeated, beats Georgia Tech for fifth straight timeDespite a slim three-point halftime lead, the top-ranked Georgia Bulldogs were able to overcome a sluggish start and scored 37 unanswered points to beat Georgia Tech.
Read more »