USD/ZAR Forecast — September 11th 2020

September 11, 2020 at 16:43 by K. Prabhu

In this video, the Trader Guy looks at the USD/ZAR pair for the September 11th session.

USD/ZAR — The pair has bounced a bit on Thursday session, due to a risk-off sentiment dominating the market. To the upside, the 17.00 level is psychologically significant, and could offer strong resistance. To the downside the 200-day EMA, and the 50% Fib retracement level will offer a confluence of support. This market could slowly grind its way to the upside. Also, you can make an argument for an uptrending channel. The demand for the US treasury is rising. Hence, a break above the 17.00 level looks inevitable, and this market looks set to go higher.

Tags: technical analysis

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USD/ZAR Forecast — September 11th 2020

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