(9,9250) The DOLL/ZAR formed a negative week reversal but only a weekly closing next Friday below 9,8230 will confirm a top. The daily closing on Friday was instead positive while remaining interior the range of the previous day forming a new inside day with 10,1450 – 9,8200 the levels to follow in the coming hours! The indicators of the daily chart have turned negative but those of the weekly one are still well positive. The indicators of the s/t charts are instead showing a mixed picture suggesting further consolidation. However, a break below 9,8230 confirmed by an hourly closing will support direct lower levels suggesting even a 9,50 undershooting!! We suggest waiting for a possible rebound toward 10,10 to sell!!
Read the full report: USDZAR 06.17
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