Based off my technical analysis , since May 2021 USDZAR has been in a bearish direction. August 23rd is when confirmation on the sell started and the bullish move had ended. Bullish move was overall just a pullback based off my measurement with the fibs on the weekly chart. Anyways what confirmed the sell / bearish move is the fact that price had reached resistance level and had failed to break. Price also broke the bullish TL. Along with other small confirmations I look for, this lets me know USDZAR still have bears going strong. Price can possibly reached 13.5000.
If you agree with my analysis please like or comment your input.