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Odds on $ZARUSD breaching 0.062 by month-end
Considering the recent price action and the wider risk-on sentiment that seems to be holding, I'd put the probability of $ZARUSD pushing through 0.062 before the end of the month at around 60%. We've seen it test the upper bounds of its recent range today, hitting 0.06151045, and the momentum suggests there's still some steam left. However, any unexpected global risk-off events could quickly dampen that outlook, so it's not a conviction call.
1 comments · 1 points
While the technicals might suggest a push, that 60% figure seems a bit optimistic given the ZAR's historical volatility and sensitivity to any shifts in global sentiment. A sudden headline could easily unravel that momentum.