- USD/ZAR struggles to keep bounce off short-term key support line.
- Bullish MACD backs rebound towards four-month-long horizontal hurdle.
- 100-day SMA adds to the upside filters, 14.00 threshold offers extra support.
USD/ZAR remains sidelined around 14.20-25, trimming the previous day’s losses with a 0.07% intraday run-up, amid Tuesday’s Asian session.
The quote took a U-turn from 100-day SMA the previous day before recently bouncing off a horizontal line from mid-April.
Although the bullish MACD signals back the latest recovery, multiple levels marked since February offer strong immediate resistance to USD/ZAR, around 14.40, ahead of directing the bulls to 100-day SMA close to 14.45.
During the pair’s recovery past 14.45, May’s high near 14.55 will be important to watch.
On the flip side, a daily closing below 14.14 horizontal support may aim for the six-week low near 13.95 prior to highlighting the 13.80-78 region for the USD/ZAR bears.
In a case where the pair sellers dominate below 13.78, the yearly low of around 13.40 will be in focus.
Overall, USD/ZAR remains range-bound during the recovery mode.
USD/ZAR daily chart
Additional important levels
|Today last price||14.2404|
|Today Daily Change||0.0066|
|Today Daily Change %||0.05%|
|Today daily open||14.2338|
|Previous Daily High||14.4034|
|Previous Daily Low||14.2098|
|Previous Weekly High||14.3765|
|Previous Weekly Low||13.682|
|Previous Monthly High||14.5456|
|Previous Monthly Low||13.677|
|Daily Fibonacci 38.2%||14.2837|
|Daily Fibonacci 61.8%||14.3294|
|Daily Pivot Point S1||14.1612|
|Daily Pivot Point S2||14.0887|
|Daily Pivot Point S3||13.9676|
|Daily Pivot Point R1||14.3549|
|Daily Pivot Point R2||14.476|
|Daily Pivot Point R3||14.5486|
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