South African Rand: USD/ZAR rally selling strategy stays in focus – Societe Generale
Societe Generale strategists argue that South African Rand dynamics hinge on upcoming CPI, retail sales and the Federal Reserve meeting. They note that repeatedly selling USD/ZAR rallies near the 200‑day moving average has worked well recently and see scope for a move back below 16.00 if global risk sentiment remains constructive after the FOMC decision.
200‑day moving average remains key level
"Selling USD/ZAR rallies near the 200dma has proved a successful strategy in recent months."
"A return below 16.00 cannot be ruled out if risk sentiment hold up post the FOMC tomorrow."
"For ZAR, the focus is on May CPI, retail sales and the Fed tomorrow."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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