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AYby u/aylin45·8hAnalysis

$USDZAR at a tricky spot, watching 16.87

Been watching $USDZAR pretty closely today. We've pushed up to 16.8558, and it's starting to look a bit toppy around the 16.87 level. That high earlier in the day at 16.87307 seems to be acting as some resistance, and we're struggling to decisively break through it.

My take is that a sustained break above 16.87, say with a couple of consecutive 15-minute closes above it, would invalidate this current short-term resistance scenario. Below that, I'm leaning towards a possible rejection and a move back towards the day's lows.

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