In this video, the Trader Guy looks at the USD/ZAR pair for the July 1st session.
USD/ZAR — Breaking below the 200-day EMA is a bearish sign. So, to the downside, the 14.00 level is the target. As you can see, there is a cluster here, and a break below this cluster is very bearish for this market. This downward move is due to Fed cutting the interest rate like many other central banks around the world. If risk-off sentiment dominates in the market, then this market will head lower. If gold market strengthens, then it will also cause the rand to appreciate. This market is dominated by the Fed at the moment. This will cause investments to flow from US towards the emerging economies for better yields. Hence, rand will attract the investors to buy it.