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Short

Long term study of the trends in the AUDZAR pair

FX_IDC:AUDZAR   AUSTRALIAN DOLLAR / SOUTH AFRICAN RAND
The weekly graph reflects the perspective of the longer term trends. This is the long term view related to my daily study of the AUDZAR             .
Comment: he South African economy is now in a recession according to Reuters. News link here: https://www.reuters.com/article/us-safrica-gdp-idUSKBN18X223 . The pair are also respecting price at around 9.48. Still, the pair are within channel boundaries. Continue to watch closely.
Comment: The Rand has clearly broken through the channel and resistances. The AUD has benefited from the weak USD and the Rand has not been able to capitalise on the dollar weakness. Going long on the AUD and short on ZAR is recommended now.
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