FX_IDC:AUDZAR AUSTRALIAN DOLLAR / SOUTH AFRICAN RAND
Comment: he South African economy is now in a recession according to Reuters. News link here: https://www.reuters.com/article/us-safri... . 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.