High event risk today with the SARB rate decision (they'll hold rates at 8.25%) and US GDP results. The rand will take its que from the dollar but technically a move lower towards the 200-day and 50-day MA looks likely, perhaps even deeper towards 61.8% Fibo at 18.53.
Note
Target range hit. I'm expecting strong support at 18.53. A strong Non-Farm payroll print will see the pair jump aggressively towards 18.95.
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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.