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USDZAR X-rate - 15 September 2020
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Published on 2020-09-15
A bearish (rand strength) bias is applicable below 16.70. Technical score: 0 
Approaching its 200-day simple moving average which might act as some major support. A bearish MACD crossover on the daily time frequency remains intact, which supports rand strength. Downside price momentum regained some strength – supporting a stronger rand. Downside targets 16.55/40. Only a price action above 16.70 will trigger rand weakness.  Upside targets for a break above 16.70 will be 16.75-85.