USD/ZAR ended the day back in its seven-day range, as the USD bulls ran out of steam in afternoon trade. As highlighted last week, we are watching the 8.80 and 8.95 levels for direction. Our bigger-picture focus remains on the 11-month diagonal, and we have to show patience as we wait for the eventual downward leg to unfold. A push below 8.80 would be the trigger we are looking for. Our intraday range is 8.86 to 8.96.
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