The pair failed to move out of the blue consolidation range as it was capped by the 30-day MA. The 30- and 50-day MA range is a major resistance range, I don't see it breaking past it.
Exporters and month-end trades have pushed the pair above the 20-day MA but this bout of dollar strength will be short lived. Target range between 13.80 and 14.00.
Daily RSI is also out of the rand overbought zone which creates extra runway for the rand.
Exporters and month-end trades have pushed the pair above the 20-day MA but this bout of dollar strength will be short lived. Target range between 13.80 and 14.00.
Daily RSI is also out of the rand overbought zone which creates extra runway for the rand.
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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.