South African rand in trouble - Next target R21 :(

Inv H&S has formed on the USD/ZAR since 6 June 2023.

The price has recently broken above the neckine, showing the US dollar is poised for upside.

The DIXIE (US Dollar Index) is also showing upside to come.

7>21>200 and confirms the US dollar is going up.

RSI>50 - Bullish

First target is R21.00

ABOUT THE DIXIE:

HOW IT’S CALCULATED

The USDX is calculated by the Federal Reserve Bank of New York and is based on the exchange rates of six major currencies: the euro (EUR) – Accounts for 57.6% - ,Japanese yen (JPY), British pound (GBP), Canadian dollar (CAD), Swedish krona ( SEK ), and Swiss franc (CHF) .