USDZAR Neutral | Could go either way - 5% lower or higher
Updated
Seasonality may be coming into effect in the next few weeks.
Which ever the case may be, it is never a stronger rand but rather a weaker dollar.
Historical, March is a period in which the dollar weakens a bit and markets rally a bit before a strong sell off through to April/May.
This should benefit the rand. I am neutral on this pair because the dollar is trading within a range/consolidating.
I've highlighted rejection areas and support areas as targets on either break-out/down for USDZAR.
Which ever the case may be, it is never a stronger rand but rather a weaker dollar.
Historical, March is a period in which the dollar weakens a bit and markets rally a bit before a strong sell off through to April/May.
This should benefit the rand. I am neutral on this pair because the dollar is trading within a range/consolidating.
I've highlighted rejection areas and support areas as targets on either break-out/down for USDZAR.
Note
DOllar shoot up higher on Powell's stance that the inflation fight is not over yet, crushing the weaker rand. usdzar broke through the resistance and depending on tomorrow's job numbers, we could see USDZAR hitting 19.5.Note
USDZAR still holding tightly and undecided on the way forward. FOMC will be meeting this Wednesday for Interest Rate decision. Will they stick it out and fight inflation or pause and pivot because things are broken in the system now ?Few banks have filled for chapter 11 bankruptcy's ... Is the customer surviving these rate hikes better than the Banking system?
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