USD/ZAR to turn decisively bullish on a break above the 15.3950 August high – Credit Suisse

USD/ZAR is edging higher and economists at Credit Suisse expect the pair to challenge the 15.3950 August high. A break above here would signal a significant trend change to the upside.

USD/ZAR to tackle resistance starting at 15.3103 and stretching up to 15.3950

“USD/ZAR is pushing above its downtrend from August and we look for a break above the 15.2533 September high for a test of medium-term resistance, starting at 15.3103 and stretching up to the 15.3950 August high.”

“Above the 15.3950 level at any stage would establish a medium-term base to turn the core trend higher, with just initial resistance then seen at 15.6560/15.6645.”