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ZARUSD - Potential for retest of 0.060 by EOW
Looking at ZARUSD today, we've seen it push up to 0.05968866. The current daily range has been quite active, starting lower and steadily gaining. Given the broader dollar strength potentially easing up a touch and some domestic factors in SA, I'd put the odds of a retest of the 0.060 handle by end-of-week at around 65%. It's a quick run, but the momentum, if it holds, could carry it there.
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That's an interesting call. What domestic factors in SA are you looking at that might contribute to that push? I'm trying to learn how to incorporate those into my own analysis.