Thursday, July 27, 2023
USD/ZAR strong buyers
The USD/ZAR pair turned to the upside and now is trading at 17.856 at the time of writing. As you can see on the H1 chart, the price jumped above the downtrend line and above 17.723 former high. These represented upside obstacles, so the breakout announced that the downtrend ended and that we may have an upside reversal.
USD/ZAR trading conclusion
Jumping above 17.723 and above the downtrend line announced a potential larger growth. This was seen as a buying opportunity.
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