Possible bounce off of support or a retracement before a continuation. Either way I see the Rand weakening against the Dollar due to the current state of the nation. Target 1: 15.00000 ; Target 2: 15.60000
@MatthewT94, Been keeping an eye on the DXY (Dollar Strength Index) which has been moving down steadily but nearing a trendline. I'm still bullish with USD/ZAR, I think there should be more upside today if the DXY retraces up. Price has also formed a support level at around 14.44362 which will hopefully be respected. If price breaks this level then my next key areas to go long will be 14.44362 - 14.40417. Do what you want with this information but don't consider it sound financial advice.
Hi @Moxin1, No, I'm referring a level to go long if price breaks below current support. I think I will post an updated analysis to illustrate my point.