USDZAR Channel Down intact. More selling to come.

16 agoThe USDZAR pair has been trading within a Channel Down pattern since April and currently is more than half-way through its latest Bearish Leg. Technically it resembles the Bearish Leg of May, which completed a -7.00% decline in the pricing of its Lower Low.

As a result, our short-term Target on this pair is 17.500 which is slightly less than -7.00%, near the Support 2 level.

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