USDZAR is testing the support zone
USDZAR is testing 16.50-17 support zone. For the upside extension from here, we need to see a price action break above 17.50 with significant price action close and confirmation. For a downside reversal and higher probability short trade entries, we need to see a break below 16.85. With this price action, long and short trades are in option. The pair reversed from 19.50 and pulled back to support in what appears to be the 4th wave. The overall trend is the upside.
Note – Look for the long trade entries with the stop loss below 17 if you will be stopped out reverse to short
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