13th Dec - USD/ZAR Gains Reach 76.4% Resistance
13 December 2013
WEEKLY CHART:
After support held at the 23.6%
pullback level the market has
recovered to better test the long
term 76.4% retracement.
DAILY CHART:
Further pressure has been
brought to bear on resistance
from the Fibo projection. No clear
break as yet but success here
would invite higher targets as well
as call for closer attention to the
longer term charts.
Note potential resistance from an
old rising return line at 10.8100
and, higher up, a bull channel top
projection around 11.2500.
The channel base at 9.9300 offers
first support.
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