USDZAR approaching support, potential bounce!
USDZAR is approaching our first support at 13.60 (100% Fibonacci extension, 50%, 78.6% Fibonacci retracement, Horizontal pullback support, Descending channel support) where a strong bounce might occur above this level pushing price up to our major resistance at 13.97 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, Horizontal overlap resistance).
Stochastic (55,5,3) is also approaching our support and we can see a bullish divergence where we might see a corresponding bounce in price.
Stochastic (55,5,3) is also approaching our support and we can see a bullish divergence where we might see a corresponding bounce in price.
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