USD/ZAR apporaching Long Term 50% Fib and previous resistance
Updated
USD/ZAR long R11.73. This is the 50% Fib of the long term trend from 2011 to 2015 and falls perfectly on 2008 highs. I'm going to use this idea to buy rand hedge stocks for long term and not as a currency trade.
Comment
The 61.8% retracement also falls on quite a strong previous resistance level around the 10.55 mark.Comment
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