FX.co ★ USD/ZAR

Hello traders, Buyers are pushing the USDZAR price up slowly and without much enthusiasm. Let's see how the US dollar will end this week; often on Fridays, it becomes more active, so today may not be an exception. The nearest obstacle for buyers is located near 16.99-17.00; if they manage to stay above this level, the uptrend can continue towards 17.09 and 17.19-17.25. If 17.25 is successfully surpassed, then the path to 17.40 will open up, and further prospects will need to be assessed based on actual developments. In case of US dollar weakening and a return of the USDZAR price below 16.94, the decline could continue towards 16.90. Staying below 16.90 will pave the way for sellers towards 16.80, 16.70, and 16.60. A drop towards more distant targets will become possible after establishing below 16.60.