(8,8140) The DOLL/ZAR is still consolidating interior the big negative outside day with 8,9940 – 8,7680 the levels to follow in the coming hours/ sessions. The weekly closing was mixed while the daily one was negative suggesting some downside potential. The indicators of the daily chart are still well below the line and also those of the weekly chart are now close to turn negative supporting further weakness. The indicators of the s/t charts are also negative supporting lower levels but at the moment we have oversold conditions and potential positive reversals after having formed bearish divergences on Thursday. The s/t scenery is therefore well mixed; however while below the 200 hours line at 8,8681 we expect the dollar to remain under pressure with a s/t target still at 8,7511, scenery that only a break above 8,90 will be able to abort!!
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Future Trend Research