USDZAR - 04 MAY 2022

4 במאי 2022

USDZAR (R15.76) | Yesterday’s early session comment highlighted the 7-day near-overbought position of the pair. Intraday we saw a print up to R16.14 and an eventual print down to R15.76 which was in line with the rising 8-Day EMA. The 7-day RSI trades at 61(strong) but points lower, reflecting the ultra short term unwind from the aforementioned excessively overbought range.