From TradingView · · 40s
USDZAR pre-Fed: Rand's resilience and next move
USDZAR pair holds support but needs fresh momentum to drop below 16.00.
In brief
USDZAR pair holds support but needs fresh momentum to drop below 16.00. USDZAR pair remains between 16.00-16.50 with rand needing fresh momentum to break below 16.00. Originally reported by TradingView.
Current Support Shift
The pair's support range flipped from 16.15 to 16.30 to resistance.
Fed Rate Hike Impact
Fed expected to hike rates 25 basis points to 4% tonight.
Rand Resilience
Rand holds strength amid geopolitical tensions and trade surplus decline.
SARB Policy Rate
SARB expected to hike policy rate 25 basis points to 7.25%.
Price Target
Pair likely to test 16.00 handle with fresh momentum needed.
In short
USDZAR pair remains between 16.00-16.50 with rand needing fresh momentum to break below 16.00.
