USD/ZAR rallies near 200-day moving average may be sold
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.
A return below 16.00 cannot be ruled out if risk sentiment holds up post the FOMC decision.