USD/ZAR: Important Mid-Term Highs Touched, Being Challenged

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The USD/ZAR is challenging mid-term values not seen since the third week of December.

SubscribeWe commit to never sharing or selling your personal information of December; this is after a wave of strong buying erupted before going into the weekend and continues.As of this writing the USD/ZAR is near the 17.50000 mark and for the time being slightly below this level. The psychological impact of the 17.

. The stronger USD has been demonstrated across Forex. The question for speculators now is if the USD/ZAR will begin to show evidence the currency pair has been overbought. Having touched values not seen since the 19of December, a healthy sign for the South African Rand would be a slight reversal lower developing as financial houses search for equilibrium. However, there is reason to be worried this will not happen so quickly.USD/ZAR short-term traders should monitor the 17.

 

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