The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
USD/ZAR can test lower levels
Information is not investment advice
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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