USDZAR - short term buy - Long term Sell
The pair is at an all-time 2021 high. Institutional volume is sitting strongly on the Weekly 38.2% Fibonacci retracement. Support by a bullish trend line on the Daily the pair might see 15.60 first before we begin to witness the formation of a bearish structure on the D1. economic indicators do not as of now give an indication that we will see a breach of the 38.2% Fib retracement, however, a breach may result in a Bearish surge of volume driving the price back below 15.50.
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