Tag Archives: ZAR
South Africa: Daily FX Technical Strategy – Narrowing bands
Aggressive moves in EUR/ZAR and GBP/ZAR saw multi-week lows posted, while USD/ZAR remains in its 16-day range.
South Africa: Daily FX Technical Strategy – Waiting
USD/ZAR ended the day with a Doji pattern, re-affirming our near-term sideways stance. Bigger picture, we continue to look for a downward resolution towards 8.75 initially, and potentially lower.
South Africa: Daily FX Technical Strategy – Long upper shadow
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.
South Africa: Daily FX Technical Strategy – Bearish signals
The topping signals we have been looking for in USD/ZAR appear underway. The about-turn ahead of the 9.10-9.20 resistance area and
European FX Daily
– China’s HSBC flash PMI rose to a 24-month high – South Korea’s GDP surprised weak – Euro area PMIs likely sideways
South Africa: Daily FX Technical Strategy – Breakouts
USD/ZAR, EUR/ZAR and GBP/ZAR broke out of their recent ranges to nullify the Doji patterns we highlighted yesterday.
European FX Daily
– Inflation surprised weak in Australia; strong in Singapore – BoC to stay on hold, unlikely to shift away from hawkish guidance
South Africa: Daily FX Technical Strategy – At previous turnaround levels
The ZAR’s recent recovery against the USD, GBP, AUD and TRY is taking place within a three-week consolidation pattern and does not change our view that the ZAR remains vulnerable into year end.
European FX Daily
– Korean government studies measures to stem KRW volatility – China’s HSBC flash manufacturing PMI rose to 13-month high – Spain to sell 2015, 2017, and 2021 bonds – US equity and bond markets closed for Thanksgiving
European FX Daily
– USD lost ground, most Asian stocks rose at the start of the week – Thailand’s GDP surprised strong Flash PMIs due for euro zone, US, and China this week – Greece in the spotlight again
South Africa: Daily FX Technical Strategy – Pausing potential
USD/ZAR posted a Shooting Star pattern, and given the pausing signals in NZD/ZAR and GBP/ZAR, we are wary of temporary stalling in the ZAR sell-off.
South Africa: Daily FX Technical Strategy – Focus on 8.84 high
The push above 8.72 was in line with our near-term expectations, and the bullish undertone in USD/ZAR has been given a boost. We continue to look for an extension to 8.84 (three-week high) over the next two weeks.