USDZAR - Near term possibilities

Currency certainly being driven by liquidity moves in developed markets, could easily retrace and test 16 and fall further if coordinated responses to Covid grow. red lines show where it will reject support. However if the situation accelerates domestically and there is no liquidity response locally the red line guide to support levels. Hard one to call right now...USD bonds are good guide and most liquidity the currency offshore driven. I would sell into the weekend with a view to buying at 15.90 to 16.