Above 15.05 supports rand weakness.
At the lower range of the linear regression channel pattern - which increases the likelihood of a mean reversion trade (weaker rand).
Also starting to counter-test the declining channel pattern (see the black parallel trendlines).
Would like to see upside price momentum supporting the bullish trend.
RSI leaves enough room for further upside price poential.
FOMC meeting tomorrow might cause volatility in markets across the board.
At the lower range of the linear regression channel pattern - which increases the likelihood of a mean reversion trade (weaker rand).
Also starting to counter-test the declining channel pattern (see the black parallel trendlines).
Would like to see upside price momentum supporting the bullish trend.
RSI leaves enough room for further upside price poential.
FOMC meeting tomorrow might cause volatility in markets across the board.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.