USDZAR Levels
SA GDP release due at 11:30am today. With the exception of ABSA’s Manufacturing PMI, the recent economic data points have been below well below expectations. Should we see a continuation of this negative trend, this could reverse the recent ZAR strength. On the chart: Accumulation is 13.57/13.60. Resistance 13.92/13.88. Intraday a break above 13.70 (could take trigger of we see a negative GDP print) could take us to 13.85 intraday.
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