ZAR finds itself in a difficult triangle
USDZAR saw a big break above the ascending triangle's resistance this week, bringing R16.50/USD now up as a possible next target. It does however find itself in overbought territory. Should there be some ZAR strength (USD profit-taking) this coming week, I will monitor the top of the triangle and 8-day moving average (EMA) as confirmation (R15.46) of a possible false break. For now, I'll be a patient bystander.