Free Trial

TECHS: USDZAR: Still Trading Within Its Bear Channel


This week's recovery in USDZAR has seen the pair trade back above the 20- and 50-day EMAs.

  • The underlying trend remains down. However, it is worth noting a key resistance at 15.9911.
  • This marks the top of a bear channel drawn off the Apr 24 high. T
  • The trend remains bearish while this level holds - a break is required to signal a reversal.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.