FX.co ★ USD/ZAR

On Friday, the north signal did not materialize, and the price decided to test the lower levels. This set the tone for a southern move on Monday. The continuation, naturally, will be driven by Asia or Europe. To begin with, the price needs to visit the level of 17.0882. The reason being that it marks a mid-term boundary where the price previously bounced off. Admittedly, the last time the price dropped below this level due to increased volatility. However, for now, this range is still considered strong. So, let's focus on the first zone at 17.0882 for the initial bounce, and the second zone at 16.9270, where the price is expected to receive a significant pushback. This second zone corresponds to the daily and H4 periods, indicating the start of strong layers. Even during the initial decline, it was evident that there are substantial funds involved in this area.