The pair has climbed back into the blue wedge after finding support on the Feb 2024 low of 18.53.
18.97 is the rate to watch. A break above will allow the pair to test the top-end of the wedge again, resistance at 19.20. On the other hand, if the rand manages to hold the pair below 18.97 after the Fed decision to leave rates unchanged, it will allow the rand to pull the pair below 18.50.
18.97 is the rate to watch. A break above will allow the pair to test the top-end of the wedge again, resistance at 19.20. On the other hand, if the rand manages to hold the pair below 18.97 after the Fed decision to leave rates unchanged, it will allow the rand to pull the pair below 18.50.