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Daily technical outlook for USD/ZAR: Societe Generale

Wednesday, February 25, 2015 10:22 AM UTC

Quotes from Societe Generale Cross Asset Research:

-After facing stiff resistance at 2008 highs of 11.90, USD/ZAR has retraced towards the support at 11.40 which happens to be previous highs and the 76.4% retracement from lows made earlier this month.

-With weekly RSI dipping below a support, a break below 11.40 will mean possibility of a retracement towards 11.28/11.24. Multiyear channel at 11.10 remains a key level.

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Daily technical outlook for USD/ZAR: Societe Generale

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