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FxWirePro: South African rand strengthens against U.S. dollar, bias remains bearish

  • USD/ZAR is currently trading around 13.14 levels.
  • It made intraday high at 13.17 and low at 13.12 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 13.28 marks.    
       
  • A daily close above 13.26 will take the parity higher towards key resistances around 13.37, 13.44, 13.58, 13.75, 13.95, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
     
  • Alternatively, a daily close below 13.26 will drag the parity down towards key supports at 13.12, 12.95, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.

We prefer to take short position in USD/ZAR only below 13.11, stop loss at 13.28 and target of 12.95/12.70.

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October 18 14:30 UTC Released

BRForeign Exchange Flows*

Actual

1.261 Bln USD

Forecast

Previous

0.980 Bln USD

October 18 13:00 UTC Released

RUReal Wages YY

Actual

2.6 %

Forecast

3.9 %

Previous

3.7 %

October 18 23:50 UTC 337337m

JPForeign Bond Investment

Actual

Forecast

Previous

89.2 Bln JPY

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JPForeign Invest JP Stock

Actual

Forecast

Previous

1235.3 Bln JPY

October 18 23:50 UTC 337337m

JPExports YY*

Actual

Forecast

14.9 %

Previous

18.1 %

October 18 23:50 UTC 337337m

JPImports YY*

Actual

Forecast

15.0 %

Previous

15.2 %

October 18 23:50 UTC 337337m

JPTrade Balance Total Yen*

Actual

Forecast

559.8 Bln JPY

Previous

113.6 Bln JPY

October 19 00:00 UTC 347347m

KRBank of Korea Base Rate*

Actual

Forecast

Previous

1.25 %

October 19 00:00 UTC 347347m

ID7-Day Reverse Repo*

Actual

Forecast

4.25 %

Previous

4.25 %

October 19 00:00 UTC 347347m

IDDeposit Facility Rate*

Actual

Forecast

3.50 %

Previous

3.5 %

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