USDZAR X-rate - 16 September 2020
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Published on 2020-09-16
A bearish (rand strength) bias is applicable below 16.55. Technical score: -1
Crossed below its 200-day simple moving average which might support further rand strength. A bearish MACD crossover on the daily time frequency remains intact, which supports this rand strength. Downside price momentum regained some strength. Downside targets 16.20. Only a price action above 16.55 will trigger rand weakness.  Upside targets for a break above 16.55 will be 16.60-75.