USDZAR - Key Levels To Watch

USDZAR - Key Levels To Watch

USDZAR

On Friday we saw the Rand close above the key psychological R15 to the Dollar, having tested it’s weakest level in nearly a month at 15.19 on an intraday basis. The candle structure (large green candles) point to buying buying pressure, while the price remains above the upward trending near term 8 and 13 exponential moving averages. Strong support for the US Dollar is around the R14.90 level while a sustained break above R15.12 opens up R15.27 as a target.

 

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