USDZAR is approaching 16.60 which is the 50% fibo from the broad 13.90*19.30 move we saw earlier this year. It's been a great little comeback for the ZAR, but markets don't move in a straight line and at some point we will run out of stream. The px action this morning indicates to me that we have a lot of buyers down here. I am essentially flat but will be watching for a little bounce as we test the 16.60 zone for the first time.
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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.