USDZAR - Which Way?
Updated
Quite possible that a strong Rand could see USDZAR fall as far as 12.25 (intermediate targets at 13.25, 13.00 and 12.80).
With political risks and other factors at play, favour moves to the upside. 15.10 as the main target. 13.85 and 14.10 as intermediate targets
With political risks and other factors at play, favour moves to the upside. 15.10 as the main target. 13.85 and 14.10 as intermediate targets
Trade active
Long entry at 13.51. Targets as aboveNote
13.85 intermediate target achieved14.06 high narrowly missed 14.07-14.10
Upward bias still in place while 13.40 holds
Note
Rand weaker on negative political developments reaching 14.32 bidNext up 14.55
Trade closed manually
Closed earlier at 14.10 for +59 centsZAR looks to be targeting 13.40
Note
13.40 target achievedNote
Weekly close below 13.20 should open the way for 12.80Rebound of USDIndex from 100 negates
Disclaimer
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.