The USD/ZAR pair has been in a strong uptrend since July 2023, breaking above the resistance level of 18.00 and reaching a four-month high of 19.10 on October 9, 2023. The pair is supported by the rising 50-day and 200-day moving averages, which indicate a positive momentum and a long-term bullish trend. The pair is also trading above the upper boundary of the ascending channel, which suggests a continuation of the uptrend and a potential breakout to the upside.
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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.