Having suffered from a long-term bullish trend and watching values constantly flirt with higher realms, the USDZAR had been able to create a downward trajectory since November the 3rd. FOREX
Before going into the weekend, the USD/ZAR saw a high on Friday of nearly 17.41000, this after seeing a high around 17.55100 the day before. However, to show the nature of the choppiness within the USD/ZAR the currency pair did trade around the 17.15000 level early in the week on Tuesday.
Speculators may want to pursue quick-hitting trades that target technical prices already flirted with in the past couple of days of USD/ZAR trading. Meaning dynamic price action may be part of the USD/ZAR Forex landscape today and tomorrow as financial institutions position for the extended break, which will create very low trading volumes later this week. Speculatively traders should brace for the potential of swift conditions today through early Wednesday and then anticipate USD/ZAR trading becoming a crawl.
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