Dear Forex experts,
ZAR keeps rallying against $ and EUR. How far can this cross go? Money flow, rate differential and commodity (read gold) currency arguments are clear but how about the technicals?
I see resistance near current spot 7.45-6.90 in weekly chart. Momentum indicators point down (see attached chart).
Keen to hear T2W's FX experts read on this situation?
thanks
ZAR keeps rallying against $ and EUR. How far can this cross go? Money flow, rate differential and commodity (read gold) currency arguments are clear but how about the technicals?
I see resistance near current spot 7.45-6.90 in weekly chart. Momentum indicators point down (see attached chart).
Keen to hear T2W's FX experts read on this situation?
thanks
