Hi Traders
As expected, The fed has hiked the Interest rate which has resulted in the dollar getting weak. My interest then falls upon USD/ZAR as we see price has now come all the way back to broken support which is now resistance.
The biggest eye-catcher is the clean range to the left which has the potential of being filled. Price could smoothly make its way down to 15.50 with ease if it respects the technicals, I will be waiting for the current H4 candle to close below 15.95 Before taking short positions on this exotic pair.
Renaldo Philander
As expected, The fed has hiked the Interest rate which has resulted in the dollar getting weak. My interest then falls upon USD/ZAR as we see price has now come all the way back to broken support which is now resistance.
The biggest eye-catcher is the clean range to the left which has the potential of being filled. Price could smoothly make its way down to 15.50 with ease if it respects the technicals, I will be waiting for the current H4 candle to close below 15.95 Before taking short positions on this exotic pair.
Renaldo Philander