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TECHS: USDZAR: Still Trading Within Its Bear Channel

SOUTH AFRICA

This week's recovery in USDZAR has seen the pair trade back above the 20- and 50-day EMAs.

  • The underlying trend remains down. However, it is worth noting a key resistance at 15.9911.
  • This marks the top of a bear channel drawn off the Apr 24 high. T
  • The trend remains bearish while this level holds - a break is required to signal a reversal.


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