50- and 200-day supports test
High event risk today with the SARB rate decision (they'll hold rates at 8.25%) and US GDP results. The rand will take its que from the dollar but technically a move lower towards the 200-day and 50-day MA looks likely, perhaps even deeper towards 61.8% Fibo at 18.53.
Kommentera:
Target range hit. I'm expecting strong support at 18.53. A strong Non-Farm payroll print will see the pair jump aggressively towards 18.95.