The USD/ZAR is hovering within sight of the 14.46000 level as of this writing and the Forex pair has created one-month lows yesterday and early today as it traverses important support and moves fast. The last time the USD/ZAR traded below its current values was in the middle of September, but it was within a strong bullish run higher. The USD/ZAR reached a high of nearly 15.25000 on the 30th of September.
The ability of the USD/ZAR has seen a consistent amount of choppy reversals which have come within sight of mid-term highs, but the pair has in fact created an incremental bearish trajectory the past two-and-a-half weeks. Intriguingly, the trading within the USD/ZAR is gaining a stronger downward slope in recent days and if the 14.46000 is penetrated lower and values can be sustained below this realm, more selling momentum could develop.
What do you think about it?