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Woodcutter
Oct 20, 2022 8:19 AM

Short USDZAR 

U.S. Dollar/South African RandFXCM

Description

Upward momentum in the USD seems to be waning. Divergences in the RSI and Money Flow Index and a possible rising wedge would indicate a topping pattern which could result in a break of the steep upward channel. Near term the USDzar could trade in a more rangebound horizontal pattern.

Comment

The USD vs Rand has not yet shown sign of weakness. Keeping an open mind for a break in either direction
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