We are watching NZD/ZAR which is approaching its YTD high at 7.67, and a breakout would aid the bearish sentiment towards the ZAR. USD/ZAR is approaching resistance at the triangle high (currently at 9.35), and a close above this level would confirm the bearish ZAR signals elsewhere. Although we are wary of the divergence signal on the daily and weekly charts, we have to stick with the trend and allow for a push to 9.35 near term.
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Barclays