- 4hr USDZAR is signaling a potential bullish reversal.
- RSI bullish divergence and pending trend line breakout
- Should we see ZAR weakness emerge, this may be negative for the SA Inc shares (e.g. the banking sector) which has advanced strongly in recent sessions.
Looks good Lester - I think the break below 200day has sucked in some weak ZAR bulls. Agree that a move higher on the cards from here
LD_Perspectives
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@gillyblore, thanks Gillian. Agree - that may just have been a 'ZAR bull trap'. I know that these things don't move up or down in a straight line. I've also got my eye on the US Dollar Index which is still holding despite the bearish USD sentiment. Also watching EUR/USD as a guide on ZAR direction.