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LD_Perspectives
Jul 12, 2021 11:33 AM

USDZAR 

U.S. Dollar/South African RandFXCM

Description

It's mainly the concerns around social unrest, but also the rising Covid cases that appear to be pushing the ZAR lower today. It does indeed also appear that the 14.48/14.50 supply level could be temporary, judging by today's strong candle structure and a print above the rising 8 and 21-EMA. The pivot also held and we are now trading between P (pivot) and R1 (resistance) level 1. Also note, the Dollar is showing some intraday strength, which may be a third factor. After R14.52, no resistance until R14.69 and R14.93.
Comments
MatthewT94
update please
dgoldiner
above 14.5 looks like clear sailing to 15.5 and then previous plateau at 16.2 but what do i know
Thinus5422
Thank you for chart and analysis.
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