USD/ZAR posted a Shooting Star pattern, and given the pausing signals in NZD/ZAR and GBP/ZAR, we are wary of temporary stalling in the ZAR sell-off. However, before we get ahead of ourselves we would wait for confirmation before calling for a pause in the USD/ZAR uptrend. Indeed, as long as USD/ZAR stabilises near 8.90 today and ends the week above 8.84, then the uptrend remains firmly in place. We would look to buy USD/ZAR at 8.88-8.90 today to target 9.20 in the weeks ahead with a stop at 8.84.
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