USDZAR Forecast: Rand Continues to Strengthen Against USD
was going to have to shut itself down. It is becoming increasingly obvious that they do not have to, and that omicron is going to be a much more mild version of the virus to begin with. This is what viruses do, they mutate into more contagious versions, but less virulent.
At this point, if we can turn around and take out the top of the candlestick for the Friday session, then I am going to be a buyer of the US dollar and aim for the 16 rand level. On the other hand, if we break down below the 15.40 rand level, then I think we could drop down towards the 200 day EMA which is currently sitting at the 15.06 rand area and rising.
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