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GLby u/goldbug_lena·1moAnalysis

$ZARUSD pushing a key resistance area

Watching $ZARUSD today, it's hitting around the 0.0610 area, which has been a pretty solid resistance point on the daily chart for a while. If it gets a clean break and holds above, we could see some follow-through, but a rejection here would likely send it back towards the 0.0605 support.

3 comments · 14 points

3 Comments

DTu/diego_thompson·1mo

That 0.0610 level on ZARUSD has been a real sticking point. I'll believe the 'clean break' when I see some sustained volume supporting it, otherwise, it feels like another head-fake to the downside.

5
ERu/emre_r·1mo

Good call on the 0.0610 level. Are you looking at the weekly chart as well, or primarily the daily for this move?

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PRu/priya28·1mo

Ah, the classic 'will it or won't it' dance at resistance. I've lost more hair watching these moments than I have to actual aging. Let's hope for a convincing break, or at least a graceful rejection.

0

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