USD/ZAR set to slip below the 2011-2021 uptrend line at 13.9388 – Commerzbank

FXStreet Insights Team FXStreet

The USD/ZAR pair is trading in one and a half year lows and is about to test support at 13.9388/23 – below which lies 13.8688/13.8148, as reported by Commerzbank.

Overall downside pressure to retain the upper hand while 15.1004 caps

“USD/ZAR’s descent is ongoing with the 2011-2021 uptrend line at 13.9388 about to be hit, together with the January 2020 low at 13.9323.”

“If 13.9323 were to give way, the April 2019 low at 13.8688 and also the July 2019 low at 13.8148 would be targeted next. Much further down sits the January 2019 low at 13.2338.”

“We will stick to our longer term bearish outlook while the cross stays below the late March high at 15.1004.”

“Minor resistance below this level can be seen at the 14.5437 early May high and also at the 14.6857 mid-April high as well as along the 2020-2021 resistance line at 14.8487.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

160.80: Japanese Yen remains close to nearly two-year lows

USD/JPY inches lower after four days of gains, trading around 160.60 during the Asian hours. The USD/JPY pair surged to 160.80 the previous day, marking its highest level since July 2024 and significantly heightening speculation that Japanese authorities could soon intervene to support the struggling Yen.

Australian Dollar remains in positive territory after paring recent gains

AUD/USD pares its daily gains, remaining in the positive territory and trading around 0.7010 during the European hours. The pair appreciated as the Australian Dollar received support from prevailing hawkish sentiment surrounding the Reserve Bank of Australia’s policy outlook.

Gold adds to recent losses, remains below $4,250

Gold struggles to attract buyers on Thursday and remains in negative territory below $4,250 per troy ounce. The precious metal finds some support from the easing of tensions in the Middle East, which has helped stabilise market sentiment, but broad-based US Dollar strength following the Fed meeting continues to weigh on price action.

Crypto Today: Bitcoin, Ethereum and XRP pare losses on increasing bets of Fed tighter monetary policy

Cryptocurrency prices are broadly moderating downwards on Thursday, as market participants assess the impact of the Federal Reserve’s (Fed) hawkish monetary policy stance.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.

The next big AI trade may not be about chips or software

Artificial intelligence has already created some of the biggest winners in modern market history. Chipmakers have surged, data centre construction is booming, and electricity demand forecasts are changing globally.