USD/ZAR a buying opportunity (11/04/2019) 11:34
In the past few days we have seen the greenback give back much of the gains it has made in the past two weeks. Though, as the price is dropping, it has become more attractive to buyers as well, the Dollar Index is indicating oversold signals which then shows exhaustion of the sellers. Furthermore, it also happens to be in the fib zone. It is this analysis on the Dollar index that has shaped our outlook on the USDZAR and most other currencies pairings that have the Greenback in them. USDZAR is also in the fib zone, additionally the stochastics is oversold indicating that the sellers are losing momentum. On the H4 chart the MACD is converging.