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The Rand Has Advanced In Line With The Model Reading

  • Writer: Lester Davids
    Lester Davids
  • 3 hours ago
  • 1 min read

Trade FX: USD/ZAR with Unum Capital.

To get started, e-mail lester@unum.co.za


In 07 April, we published a note, highlighting the poor buy/long reward-to-risk with the best probability for the price action model over the subsequent 2 to 4 weeks being a consolidation or minor retracement. We have since seen the pair retrace sharply, from R19.38 to R18.26.




Previous Post: USD/ZAR: Ultra Short Term Sees Poor Buy/Long Reward-To-Risk


Current price action model reading + updated chart. We saw the share temporarily hold the the R18.23 to R18.36 zone before trading lower, then reclaiming it for a rally to the current multi-week highs nears R19.44.





Lester Davids

Analyst: Unum Capital

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