USD/ZAR, EUR/ZAR and GBP/ZAR broke out of their recent ranges to nullify the Doji patterns we highlighted yesterday. Indeed, our call for a continuation of the consolidation ahead of the SARB interest rate announcement today was wrong. USD/ZAR breached the 9.00-9.05 area, and should it remain above 9.00 today then the next port of call is the 9.10-9.20 area.
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Barclays Capital