It clearly is a managed float and for that reason it has not gone lower or higher.
The technical picture suggests we will return back towards 11.00-11.25 in the medium to long-term. On a short-term basis, looking at daily and weekly chart, we are clearly above 16.30 and this needs to be violated for a move south for now.
The long-term strategy is remain or go short 18.60-18.90 for a move to 11.2500 for now, but noting it is very controlled and it may take quite some time for it to happen. Perhaps a short on day move as we have witnessed in the past.
The technical picture suggests we will return back towards 11.00-11.25 in the medium to long-term. On a short-term basis, looking at daily and weekly chart, we are clearly above 16.30 and this needs to be violated for a move south for now.
The long-term strategy is remain or go short 18.60-18.90 for a move to 11.2500 for now, but noting it is very controlled and it may take quite some time for it to happen. Perhaps a short on day move as we have witnessed in the past.