17th Jul - USD/ZAR Recovery Currently Restrained
17 July 2014
WEEKLY CHART:
The long term 23.6% retracement level has provided clear support so far. Recovery from this has, at least temporarily, hit buffers.
DAILY CHART:
The chart enjoyed initial recovery, off a 61.8% support on this chart, but progress has been hindered by resistance coming from the old channel base. At this stage a push through the 10.8600 18-Jun high would spur the bulls on.
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25th Jul - Natural Gas Breaks Long Term Rising Support
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10th July - Beware Bonds, particularly UK Gilts