Technical Analysis - USDZAR

Technical Analysis - USDZAR

Over the last seven trading sessions the pair has continued to test resistance near the 12.09 to 12.13 level, only to retreat.

The incline support going back to 26 March has been breached with the pair trading at 12.04 in morning trading.

While the short term price action sees a tight range, the medium term direction is higher with the price above a 50-day moving average that is starting to turn higher (currently at 11.85) while the 200-day moving average is situated at 12.84.

Leave a Reply

Your email address will not be published. Required fields are marked *