#USDZAR daily analysis

Nov 12, 2023

USDZAR saw a bearish reversal off the important 18.75 level which was strong support previously. Should we trade below friday's low at 18.61, i suspect we will see a re-test of 18.43. However if no follow through of the reversal occurs and price manages to gain traction above 18.75 i would then expect the 18.90 level to come into play where we find the 50dma and the downtrend resistance. My gut says back to 18.43 the more likely action given friday's candle structure

Nov 19, 2023

Trade closed: target reached

Target reached and a little more