FXAutomate

Continued ZAR Strength Expected

Short
FX:USDZAR   Dollar américain / Rand sud-africain
The ZAR continues to strengthen against the dollar amid increased uncertainty about the upcoming election and market stimulus talks. Multiple levels of diagonal support has now been breached and a move lower towards the Weekly S2 Pivot @ 16.27 and eve the Monthly S1 Pivot (also acting as the weekly S3 Pivot) @ 16.10 can be expected. In the scenario of a pullback resistance will be in the area of 16.55 with a close above invalidating the bearish setup and targeting the Monthly Pivot @ 16.68

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