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FxWirePro: South African rand marginally higher against U.S. dollar, bias remains neutral

  • USD/ZAR is currently trading around 13.72 levels.
  • It made intraday high at 13.77 and low at 13.68 levels.
     
  • Intraday bias remains neutral for the moment.   
     
  • A daily close above 13.73 will take the parity higher towards key resistances around 13.96, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28, 15.45, 15.66, 15.77, 15.86 (February 29, 2016 high) and 16.15 marks respectively.
     
  • Alternatively, a daily close below 13.73 will drag the parity down towards key supports at 13.57, 13.45, 13.32, 13.19, 13.01, 12.82 and 12.58 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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March 29 14:00 UTC Released

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Actual

5.5 %

Forecast

2.4 %

Previous

-2.8 %

March 29 14:00 UTC Released

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Actual

112.3 %

Forecast

Previous

106.4 %

March 29 23:50 UTC 5050m

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Actual

Forecast

Previous

149.4 bln JPY

March 29 23:50 UTC 5050m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-580.4 bln JPY

March 30 00:00 UTC 6060m

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Actual

Forecast

Previous

-2.2 %

March 30 00:01 UTC 6161m

BRTJLP Lending Rate*

Actual

Forecast

7.50 %

Previous

7.50 %

March 30 06:00 UTC 420420m

ZAM3 Money Supply YY*

Actual

Forecast

7.90 %

Previous

7.91 %

March 30 06:00 UTC 420420m

ZAPvt Sector Credit Ext.*

Actual

Forecast

5.21 %

Previous

5.56 %

March 30 07:00 UTC 480480m

DESN State CPI MM*

Actual

Forecast

Previous

0.5 %

March 30 07:00 UTC 480480m

DESN State CPI YY*

Actual

Forecast

Previous

2.4 %

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