Wednesday 15 May 2013

USDZAR Continues to Trade Higher Within the Confines of a Rising Wedge


They threw big foreign bond buying and general 'risk on 'at USDZAR last week but still USDZAR has held the uptrend line of its rising wedge. The top end of the wedge (green line) comes in at 9.5000 now .We still expect break higher in USDZAR and target 11.0000 in the coming months.

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