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Chart Of The Day: USD/ZAR

By Blake Morrow ForexApr 22, 2021 05:33PM ET
www.investing.com/analysis/chart-of-the-day-usdzar-200574803
Chart Of The Day: USD/ZAR
By Blake Morrow   |  Apr 22, 2021 05:33PM ET
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Many U.S. dollar pairs have similar setups, but the USD/ZAR is in a descending wedge, which may be suggesting a bullish reversal soon. A break of the 14.4000 level could mean a move back to the 15.0000 level, which is the long-term descending trendline.
We should also note, despite the rally to all-time highs in U.S. equities, USD/ZAR has not broken the lows from the end of 2019, so if the pair does not break the 13.9300 level, we could be creating a higher low longer term. 
 
USD/ZAR Daily Chart.
USD/ZAR Daily Chart.
Chart Of The Day: USD/ZAR
 

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Chart Of The Day: USD/ZAR

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