# South African Rand Poised for Downward Correction, says Technical Analyst, as Ratings Agencies Circle

> Commerzbank technical analysts say the rand has topped out after strong gains and is poised for a deeper correction. USD/ZAR is seen rising toward 14.42 and possibly 14.59 to 14.68. Investec sees a downside case as more likely, and Morgan Stanley has begun to doubt the rand outlook over debt concerns.

- Date: 2019-07-30 · published 2019-07-30T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/58387-south-african-rand-poised-for-downward-correction-says-technical-analyst-as
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand would raise the dollar cost of South African imports and could add to pressure on local feed buyers' input costs.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/11786-south-african-rand-poised-for-downward-correction-says-technical-analyst-as-ratings-agencies-circle

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.