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Rand News Update │ Rand trading below level of 18.50

We publish this daily rand news update of the rand to dollar rates and factors which influence foreign exchange markets, to help you make better decisions whether you send money, receive, or want the latest money transfer news.


The South African rand has reached a low of 18.4125 in yesterday’s session. The local unit started yesterday at a level of 18.60 and finally broke through the resistance level of 18.55. The strong ZAR is due to good commodity prices and a weaker USD. The predicted trading range for the rand today is between 18.3000 to 18.6000.


Global market focus has shifted to the U.S. inflation numbers due today and the FOMC minutes due later tonight. The USD/ZAR pair is still comfortable at the 18.5050 support level with a possible drop to the low 18s in the next few sessions being a possibility. Although at the opposite end, we could also see an aggressive spike back up towards levels above 19.00.


The rand will look for support at 18.51, 18.36 and then a low of 18.26. The resistance levels for the rand are at 18.75, 18.89, following with a high of 19.02.

 

Foreign Exchange Rates

At time of writing:

The Rand traded at 18.4770 versus the dollar.

  • GBP: 23.42

  • Euro: 20.05

  • Gold: 2357 USD

  • Bitcoin: 69 312 USD

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Rand News Update │ Rand weaker at level of 18.70

We publish this daily rand news update of the rand to dollar rates and factors which influence foreign exchange markets, to help you make better decisions whether you send money, receive, or want the

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