Short as long as it remains below 12.7.
Although the dollar index gained strength in the past week the rand also strengthened against the dollar which could indicate a very bearish sentiment for this pair in favour of the rand.
It should go down to at least 12.1 and could go as low as 11.8 if the dollar starts to retrace.
A break of 11.8 and it will go test the lows.
Although the dollar index gained strength in the past week the rand also strengthened against the dollar which could indicate a very bearish sentiment for this pair in favour of the rand.
It should go down to at least 12.1 and could go as low as 11.8 if the dollar starts to retrace.
A break of 11.8 and it will go test the lows.