JaredBooysen

We’ve reached an extreme in the Rand’s valuation!

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JaredBooysen Diupdate   
OANDA:USDZAR   Dollar A.S / Rand Afrika Selatan
The ZAR has weakened roughly 6% per annum against the USD since 1990. Using the pitchfork indicator we can see we’ve reached an extreme in the Rand’s valuation on the weekly chart. As the dollar finds normality I believe the Rand will strengthen and find its way back to it's mean, however I expect volatility in the shorter term.
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Looking at the daily chart, the ZAR might still see further weakness to about R19.20
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The dollar index is also at extreme highs.
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Trading ditutup: target tercapai

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