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The South African Rand: Here's How It Played Out

Writer: Lester Davids
Lester Davids
2 hours ago
1 min read

This research note is free.

Please Note: When Published Intraday (JSE Equities), Prices Are Delayed By 15 Minutes.


Sharp, bullish reversal since our 26 August note.




Previous Post (Friday 11 September): U.S. Dollar / South African Rand


Analysis + Chart as of: Friday, 11 September at 10h07.


The pair is attempting a bullish reversal, having formed a double bottom technical formation (2x low ~R15.90). The bullish reversal is also in line with the price action model which, on 26 August, stated that the pair had become attractive for a buy/long position. For now sellers (i.e. buyers of the Rand) are controlling the R16.17 to R16.20 range while a strong break above this level is would suggest that USD bulls are starting to take control. Above this level, the 75-day EMA at ~R16.26 could provide temporary resistance.


Lester Davids

Senior Investment Analyst: Unum Capital

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