Watching USDZAR at 16.8248

Interesting to see $USDZAR holding 16.8248 so far today. It's been a tight range, but a sustained break below that could open up a move towards 16.70. Conversely, if we bounce from here and close above the daily high around 16.8248, it suggests this level is acting as a decent support, invalidating the bearish short-term scenario.