USD/ZAR can test lower levels

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Trade idea

SELL 13.92; TP 13.8050; SL 13.95

USD/ZAR met resistance at the line connecting September and October highs and turned down. The pair is currently testing levels below the 200-day MA (13.93) and the 38.2% Fibo retracement of February advance (13.94). The short-term downside target lies at 13.8050 (50% Fibo).

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FBS Analyst Team

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