USD/ZAR - Possible Bullish Reversal
The USD/ZAR Cconfiguration is very interresting, the price is currently rebounding on the major support of 12.
The probability of a bullish reversal is very high.
The first objective is the hit of the major descending resistance.
If this one is broken, we can easily bet on target 2 and if the 14.5 resistance is broken, the target 3 will become possible.
In case the rebound is not validated we plan a backup scenario with the rebound on 11 level.
The probability of a bullish reversal is very high.
The first objective is the hit of the major descending resistance.
If this one is broken, we can easily bet on target 2 and if the 14.5 resistance is broken, the target 3 will become possible.
In case the rebound is not validated we plan a backup scenario with the rebound on 11 level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.