Risk Aversion

USD/MXN remains in a tense short-term range as traders weigh Middle East escalation, cautious global sentiment and broad US Dollar demand. The pair is still in lower long-term territory, but recent upward pressure has put resistance back in focus for short-term currency traders.

USD/ZAR is trading in elevated terrain as broad dollar strength, Middle East tensions and higher oil prices pressure the rand. Technical traders remain alert to resistance and reversal risk as the pair tests volatile short term ranges.