FX.co ★ sabrina.fay | USD/ZAR

USD/ZAR. Good afternoon. The Dollar/Rand made a pretty good move to the upside yesterday, and the bulls still retain control over the pair. So the scenario of a move north looks more likely. On the hourly chart, the indicators remain fully in favor of further movement to the upside; the pair has slightly corrected today and has now approached the activation point of the next intraday buy signal with an approximate target of 16.550-600. So I’m looking closely at the possibility of opening new long positions. On the 4-hour chart, the indicators are also fully in favor of further movement to the upside, and the Bollinger channel on the last bullish candle has started to expand, which indicates a likely continuation of the current upward impulse. So there is a chance to move north in the medium term as well. Although one of the lower-window indicators no longer supports the bullish sentiment, it hasn’t canceled it yet.