OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/ZAR trades through critical resistance at 10.8625 - TD Securities

FXStreet (Łódź) - Cristian Maggio, Head of Emerging Markets Research at TD Securities stresses that following the release of data by the SARB today, pointing to wider deficit than expected at SAAR 6.2% of GDP, USD/ZAR has traded through critical resistance at 10.8625.

Key quotes

"We could see the ZAR consolidating in the 10.8625/10.9640 range in the remainder of the week, which means an upward shift of the USDZAR trading range that we have seen holding for a few weeks."

"A close above 10.8625 today is critical to consolidate the uptrend."

"The move would be coherent with our medium-long term forecasts that see USD/ZAR at 11.05 by end-Q3 and consistently above 11.00 next year."

SEB: USD/JPY target at 107.30 if 106.30 taken out - eFXnews

The eFXnews team obserrve that the SEB sees USD/JPY price action as persistently bullish and expects 107.30 to be the next target level.
Read more Previous

EUR/USD posts another low of 1.2859 - FXStreet

FXStreet Chief Analyst Valeria Bednarik points out that EUR/USD fell to a fresh low of 1.2859 at the beginning of the European session, in the light of the unfaltering demand for the greenback.
Read more Next
Start livechat