(Bloomberg) -- The South African rand's advance to its highest versus the dollar since the start of the year may stall after it failed to breach a key technical level, according to Investec Asset management.
The rand, which soared to a four-month high after breaking its 20-day moving average of 7.126, may struggle to hold gains below 7 per dollar, said Vivienne Taberer, a portfolio manager at Investec Asset Management. The moving average is a technical- analysis indicator that displays the average value of a security's price over a set period of time.
Read more at Bloomberg Currencies News
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