CHF/ZAR: Resumption of multi-year uptrend

The drawn out correction of the past three years is coming to an end, thus resuming the multi-year uptrend (since 2005). Prepare for significantly higher levels once the trigger at 13.85 is taken out convincingly. We expect a move towards minimally 14.52 and probably 16.77 on a 9-12 month horizon.

Near term trend: neutral
Long term trend: positive
Outlook: moderate correction ending, trend resumption > 13.85
Strategy: long-entry > 13.85
Support: 12.90 / 12.20 / 11.51
Resistance: 13.85 / 14.52 / 16.77+
Outlook cancelled/neutralized below 12.20