Short USDZAR
Upward momentum in the USD seems to be waning. Divergences in the RSI and Money Flow Index and a possible rising wedge would indicate a topping pattern which could result in a break of the steep upward channel. Near term the USDzar could trade in a more rangebound horizontal pattern.
Note
The USD vs Rand has not yet shown sign of weakness. Keeping an open mind for a break in either direction
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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.