(9,7600) The DOLL/ZAR is confirming a nice correction that favoured even a return already below the 200 hours line, now resistance at 9,7845. The daily closing was weak well below the low of the previous session. A possible daily closing tonight below 9,8030 will already confirm a top for this pair suggesting a return toward 9,50 if not even below of it!! The indicators of the daily chart are however still positive for now but those of the s/t ones turned below the line supporting further consolidation/ correction. The indicators of the hourly chart are even oversold showing potential positive reversals. The temptation to buy it is great but while below the 200 hours line and having broken the support line that it was running since May the 9th is suggesting some attention. We prefer therefore remaining on the sideline!
Read full report:USDZAR 06.04
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