TALK­ING TECHNICALS

Track­ing the value of the green­back — and its ef­fect on the rand

Financial Mail - Investors Monthly - - Contents - GARTH MACKEN­ZIE www.trader­scorner.co.za

to come. Be­low R13.10 and then R13 could put the rand on the front foot again and sig­nal fur­ther cur­rency strength. On the other hand, a clear break above R14 would likely open fur­ther weak­ness to the next ma­jor zone of tech­ni­cal re­sis­tance at R14.50.

A lot may hinge on the dol­lar. If the US dol­lar in­dex were to break above 95 re­sis­tance, that would likely sig­nal more weak­ness for the rand against the dol­lar and re­sult in the R14.50 area be­ing tar­geted. ●

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