USDZMW looking forward to continuation of the down trend after the market mitigated some of the imbalances on the highs.
Markert made a bullish engulf candle signaling a good sell off probability which is currently being tested and mitigated.
Currently the Zambian economy is facing a form of uncertainty as it has not yet successfully come to an agreement to restructure its debt with its official creditors. positive news towards such an agreement will strongly confirm my analysis apart from that low up and down volatility is to be expected.
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Seeing a continued push to the downside as anticipated.
From the current analysis, already there was a liquidity grab at level 19.98, and the price left the area of value making a new low to the downside forcing the price down with the bearish reversal pattern. There are chances that USD will keep depreciating against ZMW and is mostly likely to reach 17.15 level
CRAZY DROP FROM USDZMW....... Once the IDM level is taken out. I see no reason for the Kwacha to struggle to push down further back to 15.20 .. Still waiting for official creditors announce on the debt restructuring to clear out uncertainties in the Zambian economy for investors.