USDZAR Technical Analysis Update
I've applied a Fibonacci retracement to the strong bearish momentum on the USDZAR pair. The Fibonacci levels are acting as resistance, or what I like to call the "defense lines." Currently, the price is hovering around the final bearish defense line. If this level is broken, I anticipate the price moving higher towards the next resistance at USDZAR 18.000.
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#ForexTrading #USDZAR #TechnicalAnalysis #InvestmentOpportunities #ForexCollege
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.