FX:USDZAR U.S. Dollar/South African Rand
- Price broke outer
- We saw a nice retracement to the fibzone - between 50%-61,8%
- Price did not quite bounce off the outer , however this could be due to the daily as price immediately moved to the upside after slightly testing the zone.
- Will be looking to take profit at the 100% level as price is stuck within the main
- Stochastics oversold on the and has already exited the oversold area on the H4 timeframe
- H4 divergence confluence