The USDZAR experienced solid reversals higher in December: forextrading technicalanalysis forex FX
Get DailyForex analysis to your emailThe USD/ZAR hit traders with plenty of choppy reversals during December, but finished the year near November’s lower values.is set to begin trading in 2023 around the 16.97100 price; this is only a sliver higher than the low for currency pair in November when it hit a depth of 16.91200 approximately.
Trading results in the USD/ZAR could remain choppy until financial houses return in full; in fact the past month suggests that trading could stay volatile all of January.It is no joke to speak about the problem regarding electricity supply in the country. The ability of the USD/ZAR to demonstrate three significant reversals higher after flirting with support is troubling, but the highs made during December incrementally as the month progressed showed less power when a one month chart is examined.Support for the USD/ZAR remains questionable and the higher moves after touching lows may make sellers nervous.
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