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Free AccessUSD/ZAR Sellers Pressure the 50dma Ahead of NFP Data
- USD/ZAR trades +0.06% higher this morning, mirroring early price action in the BBDXY following a slightly firmer APAC session as equities recovered.
- The cross remained choppy within the 16.00-15.70 range, but has seen notable selling pressure into the highs this week.
- Focus will be on US NFPs after a strong ADP number earlier in the week, with the cross being driven primarily by USD-side moves and global risk sentiment.
- Sellers are putting pressure on the 50dma at 15.7241, with a clear break below bringing 15.50 support into view with the 100dma below at 15.2334.
- However, failure to make a consolidated break will bring attention back to the 16.00 handle. Intraday Sup1: 15.6638, Sup2: 15.577, Res1: 15.8099, Res2: 15.8726
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.