U.S. Dollar / South African RandEducation
@CyrilRamaphosa doing some heavy lifting
As Pres Cyril Ramaphosa is picking up
the Rand, as one of his Ministers
suggested they will do, there are a
few challenges -
i) this Cup & Handle thing doesn't
want to go away
ii) with a neckline around 14.57, that
will add some serious currency risks
iii) the 200-day MA is not his friend either
iv) further there is a trend line which may
or may not be part of an ascending triangle
v) he can counter all the above by hitting these
obstacles with good news like he did this past
week, the inflow of investment!!
the Rand, as one of his Ministers
suggested they will do, there are a
few challenges -
i) this Cup & Handle thing doesn't
want to go away
ii) with a neckline around 14.57, that
will add some serious currency risks
iii) the 200-day MA is not his friend either
iv) further there is a trend line which may
or may not be part of an ascending triangle
v) he can counter all the above by hitting these
obstacles with good news like he did this past
week, the inflow of investment!!
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