USD/ZAR is edging higher and economists at Credit Suisse expect the pair to challenge the 15.3950 August high. A break above here would signal a significant trend change to the upside.
“USD/ZAR is pushing above its downtrend from August and we look for a break above the 15.2533 September high for a test of medium-term resistance, starting at 15.3103 and stretching up to the 15.3950 August high.”
“Above the 15.3950 level at any stage would establish a medium-term base to turn the core trend higher, with just initial resistance then seen at 15.6560/15.6645.”
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