FX.co ★ sabrina.fay | USD/ZAR

Hello traders, after a recent significant weakening, the dollar continues to move within a narrow range, slightly up, slightly down. In the USDZAR currency pair, prices are stuck in a range with boundaries near the levels of 16.30-16.50. The week is coming to an end, but with the US dollar, anything can be expected, even some surprises in the final hours. In general, the downward trend remains relevant, but what is holding back sales is the sharp downward movement, indicating that prices could rise to 16.60, 16.70, and 16.80 at any moment. Around 16.80, it may be worth considering selling USDZAR again, but decisions should be based on actual market conditions. If the dollar gathers strength to continue rising, then after consolidating above 16.80, prices could easily reach 17.00, 17.10, and 17.20. However, if sellers manage to sustain the decline without a reversal upwards, then upon settling below 16.30-16.20, prices could move south towards 16.00 or even 15.80.