Fxwirepro: Usd/zar Recovery rejected at 12.5987, Further Downside Likely

  • USD/ZAR is attempting a mild recovery on the day after sharp drop on Tuesday to 12.5219 levels
  • The pair is currently trading at 12.5318, after recoveries were rejected by 12.5987
  • Daily Stochs have crossed bearside but short term averages support the risk for a resumption of gains
  • Immediate resistance is seen at 12.6385 (Hourly Resistance Jul 28), ahead of 12.6470 (Daily High Jul 28)
  • On the flipside, supports lie at 12.5283 (Daily Low Jul 29), then at 12.4755 (10-Day MA)

Resistance Levels:R1: 12.6385 (Hourly Res. Jul 28)R2: 12.6470 (Daily High Jul 28)R3: 12.6900 (Daily High Jul 27)Support levels: S1: 12.5283 (Daily Low Jul 29)S2: 12.4755 (10-Day MA)S3: 12.4340 (21-Day MA)

The material has been provided by InstaForex Company – www.instaforex.com

Leave a Reply

Your email address will not be published. Required fields are marked *

This blog is kept spam free by WP-SpamFree.