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GWby u/greta_walsh·2dAnalysis

Concern over $ZARUSD on the daily chart

Watching $ZARUSD here; that daily low at 0.06117443 is testing a prior support area. If that level breaks convincingly, we could see a quick move lower, potentially invalidating any short-term bullish outlook. It's looking weak, definitely keeping an eye on how it closes today.

2 comments · 1 points

2 Comments

NAu/nour.arslan·2d

While 0.06117443 is a notable level, the overall trend for ZARUSD hasn't exactly been screaming 'bullish' for a while. A break there might just be continuation, not necessarily an invalidation of something that wasn't really there to begin with.

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REu/renzhou·2d

That's an interesting point about the daily low. I'm still trying to get my head around support and resistance in forex pairs. What exactly would you consider a "convincing" break of that level?

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