Key Resistance: 14.90
I’m looking for USD longs on a DXY reversal after the retest of August highs. The USDZAR presents a very good opportunity here.
After breaking with the 14.68 level last week and trapping shorts the USDZAR has pulled back to this very level.
This is a MASSIVE key historic level in this market and right now confluences with the weekly pivot and the previous broken highs.
Dip buys at the break of today’s highs are in play; more so because of the USD strength on a possible bullish leg.
Short term bullish divergence is also detected making this setup even higher probability of success. I’m targeting yesterday’s highs which are also the previous tested base.
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