We see that price has come back down to the 19.1386 support level.
If price finds support and moves up we could see resistance at the 19.3352 level.
If price breaks through this support and the next support is at 18.9059 level AND if price breaks through this level we could possibly see a big move to the downside.
EUR/USD HAS BROKEN THE DOWNWARD TREND WHEN IT BROKE THE 1.079 RESISTANCE LINE AND IS NOW ON A BULL RUN.
GREAT BUYING OPPORTUNITY.
POTENTIAL RESISTANCE LINES:
- FIRST RESISTANCE LINE: 1.085
- SECOND RESISTANCE LINE: 1.093
- GOAL RESISTANCE LINE: 1.1
LETS WAIT AND SEE WHAT HAPPENS.
It seems the finance minister has been abruptly removed. Replaced with a little known politician. The rand seems to have dropped significantly, more so than reasonable and so I would say its devaluation is overstated. The fundamentals remain the same.
