FX.co ★ sabrina.fay | USD/ZAR

Finally, some movement has started in the USDZAR pair. Buyers have done well, managing to break above 16.40 and 16.50, even reaching 16.60, but such impulsive movements often soon reverse. Let's see how they start the new week, there might be some surprises right at the opening. Growth in the USDZAR pair is a real possibility, but continuation from current levels seems unlikely, a pullback is needed. I assume that at the beginning of next week they will head towards 16.50 and 16.40. Holding below 16.40 will allow sellers to move down to 16.30, and then we will need to assess the situation. Gold also plummeted on Friday, and it is realistic that buyers will start recovering losses next week, which will help USDZAR sellers move south. If by some miracle the US dollar can continue to rise, then after consolidating above 16.60, it could move up to 16.70 and 16.80 - from here a reversal looks good, but we will see how it goes in reality.