USDZAR inverted hear and shoulders

24 de mar. de 2021

If the pair manages to break above the 50-day MA and the downward channel from 2020 (which also lines up satisfyingly with the 100-day MA) we could see a move towards 15.65 and the completion of the inverse head and shoulders pattern. The rand has however been resilient to the broad based dollar gains this week. The MACD also seems to be rolling over which is rand negative.