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USD/ZAR broke below the 50-dma at Zar..........>

RAND
RAND: USD/ZAR broke below the 50-dma at Zar 13.2005 on the most recent downtick
in the USD. A close below would be the first since April and could open up a
deeper decline to the 38.2% Fib level for the Zar 11.5078-13.9974 move at Zar
13.0464 ahead of the 200-dma at Zar 12.7591. Rate has now pulled back around 6%
from the late June high of Zar 13.9974.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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