Wichard22

USDZAR selling opportunity?

Short
FX:USDZAR   U.S. Dollar / South African Rand
USDZAR is still in a downward trend and testing the R14.50 level which it broke to test the R14.00 level. We expect the R14.50 to hold for now and USDZAR to look to test R14.00 once again. The momentum showed with the red arrow is also showing that a test stronger is possible. Importers must utilised levels lower down to look at hedges for 2020.
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