The Rand has been in a Long Term downtrend. After breaking out a rising channel, which looked corrective, it now appears ready to resume lower.
Note
Daily view:Note
today ZR is breaking its rising wedge; daily close will matter. We could be at the start of another massive leg lower (more than 10%)Note
after breaking its rising wedge ZAR failled to move impulsively lower. Instead it bounced back and backtested the pattern, Let's see if sellers can move thing from here
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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.