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FxWirePro: South African rand trades marginally lower ahead of PPI data

  • USD/ZAR is currently trading around 14.44 levels.
  • It made intraday high at 14.45 and low at 14.39 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 14.23 mark.
     
  • A daily close above 14.41 will take the parity higher towards key resistances around 14.75, 14.94 and 15.26 marks respectively.
     
  • Alternatively, a daily close below 14.41 will drag the parity down towards key supports at 14.23, 14.12, 14.02, 13.87, 13.78, 13.70 and 13.50 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  •  South Africa will release PPI data around 0930 GMT.

We prefer to take long position on USD/ZAR around 14.40, stop loss at 14.22 and target of 14.72.

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2019-05-27 02:34:53
0m

May 27 01:30 UTC Released

CNSales Turnover

Actual

-3.7 Percent

Forecast

Previous

13.9 Percent

May 27 01:30 UTC Released

CNTurnover/sales cum Y/Y

Actual

-3.4 Percent

Forecast

Previous

-3.3 Percent

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 704653704653m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 704653704653m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692833692833m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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