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U.S. Dollar / South African Rand

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USDZAR trade ideas

USDZAR View!!South Africa's rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve's September meeting. At 1554 GMT, the rand traded at 17.6425 against the dollar USDZAR , about 0.3% weaker than its previous close. The dollar index DXY last traded up about 0.3% against a basket of currencies. "Dollar strength of late can be attributed to stronger economic data out of the region which is dimming the outlook of further outsized rate cuts this year in the world's largest economy," said Shaun Murison, senior market analyst at IG.
Short
by FXBANkthe8055
USDZAR Technical Analysis UpdateI've applied a Fibonacci retracement to the strong bearish momentum on the USDZAR pair. The Fibonacci levels are acting as resistance, or what I like to call the "defense lines." Currently, the price is hovering around the final bearish defense line. If this level is broken, I anticipate the price moving higher towards the next resistance at USDZAR 18.000. To dive deeper into Forex as an Investment Opportunity, visit: www.forexcollege.co.za #ForexTrading #USDZAR #TechnicalAnalysis #InvestmentOpportunities #ForexCollege
Long
by ForexCollege
1
USDZAR SHORTUSDZAR SHORT The USDZAR movement refers to the changes in the exchange rate between the US Dollar (USD) and the South African Rand (ZAR). It indicates how many South African Rands are needed to buy one US Dollar. The movement is influenced by factors such as interest rates, economic data, political stability, and global market trends. A stronger USDZAR rate means the Rand is weaker relative to the Dollar, and vice versa. This movement is closely watched by traders, investors, and businesses involved in international trade with South Africa. #XpensiveTraderSA
Short
by XpensiveTraderSA
usdzarstrogerThe South African rand edged higher against the dollar despite a strong U.S. jobs report on Friday, after a difficult week for risk sensitive currencies as tensions escalated in the Middle East. By 1512 GMT, the rand USDZAR traded about 0.3% firmer at 17.465 against the dollar. Since the start of the week, the local unit is down about 2%. The dollar DXY jumped to a seven-week high after data showed that U.S. employers added more jobs than expected in September, leading traders to pare bets of an outsized interest rate cut by the Federal Reserve in November. The greenback was also supported by demand for safe-haven assets after an Iranian missile attack on Israel on Tuesday left investors assessing widening Middle East tensi
Short
by admiretira