USDZAR dropping into support zone

Russell Shor, CFTe, MFTA FXCM

The USDZAR is dropping into a potential support area. This area is characterised by the S1 pivot, the 61.8%-76.4% Fibonacci retracement zone, and price resistance turning into potential support (green rectangle). Moreover, the stochastic oscillator is oversold (green ellipse).

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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