FX:USDZAR   U.S. Dollar / South African Rand
USDZAR have recently tested a new record high just above R19,00000. The strong upwards movement is supported through a strong support trendline . The Trendline have been retested about 3 times and therefore is strong. A Short term trendline (blue line) have been broken and retested and therefore indicates buying power rising.

A great entry point is at R18,30000 . Take Profit at R19,00000. A Stop loss can be placed at the R17,80000 mark.

There could also be a decline in the JSE stock prices due to a Rand that is weakening.

For more live signals check out my Telegram Channel : Otforex


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