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Flash note: USDZAR

U.S. Dollar / South African Rand (FX:USDZAR)  
MarkWeetman  
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Support and Resistance Trend Lines USDZAR lester davids unumcapital unum
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trendanalysis supportandresistance trendline usdzar lester davids unumcapital unum
Unum flash note on the USDZAR from our Trading Desk analyst, Lester Davids.

Chart 1: USDZAR: We currently trade just below the R14.25 resistance, with the Rand having gained on a weaker USD. The monthly chart shows this to be the top of the bull flag/channel.

Chart 2: Another view (again the monthly chart), shows the potential start of a "right shoulder" of a long term inverse H&S formation.

support and resistance levels from the bank analysts (Investec) this morning confirm these ranges (R1 14.2430, S1 14.15)
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