USDZAR - Neutral
Updated
With the National election that is over. ZAR could continue to strengthen against the US Dollar or weaken. It finds itself at a very important support area (14.14000) which is confirmed both with a bullish trendline and also confirmed by the 38.2% Fib levels. If this breaks ZAR could find support around 14.11000 which is the 50% Fib level. For now, we remain neutral. We will enter around late Monday afternoon and will update below. We looking at what price action and the candles will tell us. Should we go long we can expect a 400 pip move until 14.50 and beyond.
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