The ZAR has been stalling against the EUR, and with NZD/ZAR and TRY/ZAR pausing near their January 2013 pivot high, we are taking note of the turnaround potential. Similarly, USD/ZAR resistance is near 9.35 (triangle high), and with weekly momentum starting to roll over we believe tentative stalling signals are emerging. Although it is too early to call for a top, we are watching the 9.05 and 9.35 levels for direction
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Barclays