USD/ZAR pair has been moving bullish over the last few weeks. Looking at the daily time frame. It is now consolidating in a bull flag right in the middle of the channel at resistance after retracing to the 0.618 fib level. With a good breakout of the bull flag resistance should be broken and become support.
I am looking to enter upon the break out and close above BOTH the flag and the 16.1148 resistance level. Doing this would make it highly probable to complete its move to the top of the channel which is the 0.618 fib extension at just over 17.500.
I am looking to enter upon the break out and close above BOTH the flag and the 16.1148 resistance level. Doing this would make it highly probable to complete its move to the top of the channel which is the 0.618 fib extension at just over 17.500.