(9,77) The DOLL/ZAR confirmed a negative closing on Friday but a weak one in the weekly chart supporting further weakness. It was the second weak closing in a row suggesting we have a top above 10,50 supporting a possible drop toward the support line at 9,28!! The indicators of the daily chart are well negative as well as those of the weekly one supporting further strength. The indicators of the s/t charts are also negative with bullish divergences confirming a negative tone. We expect further weakness; in the s/t however, we expect good support in the 9,72/70 area from where we expect a rebound that could bring back this pair even toward 10! We wait for a decent retracement to sell!
Read the full report: USDZAR 09.16
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