FX.co ★ USD/ZAR upside reversal activated

USD/ZAR strong buyers

The USD/ZAR pair turned to the upside and now is trading at 17.856 at the time of writing. As you can see on the H1 chart, the price jumped above the downtrend line and above 17.723 former high. These represented upside obstacles, so the breakout announced that the downtrend ended and that we may have an upside reversal.

USD/ZAR trading conclusion

Jumping above 17.723 and above the downtrend line announced a potential larger growth. This was seen as a buying opportunity.