Dangerous levels on the ZAR
Will be monitoring the R17.50/USD on the Rand very closely. A break and close out of the parallel channel (above R17.65), could very much see the ZAR back at R18.30 - R18.35.
All the EMA's are now pointing north, which got me worried about the short-term trend for now.
I still believe that the ZAR could improve from its current levels, but will wait for another break and close below R16.50.
All the EMA's are now pointing north, which got me worried about the short-term trend for now.
I still believe that the ZAR could improve from its current levels, but will wait for another break and close below R16.50.
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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.