US Dollar / SA Rand - Short Term Outflows
Over the last 14 trading sessions, the price has failed to break above the 14.55 resistance level while we have also seen volatility expand, with the price making a 2-week low. A observation of the ‘money flow’ suggests that the selling pressure is slowly escalating, opening up the potential for lower levels on the pair (testing of 200-day at 14.08 is possible here) In addition, the incline support that has been in place since 01-February has been breached while a bearish 5/10 moving average cross have provided further support for a potential downward move.
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