The Rand has chipped away at the USD for the better part of a year, resulting in a currency exchange rate of 14.14 ZAR per USD. The pair has begun uncomfortably consolidating in a range, with wicks indicating quite a bit of indecision. Two important South African reports are set to be released this coming Wednesday. These reports could influence the pairs exchange value and help set off an upwards or downwards trend.
I am waiting for a breakout.
I am bullish on the side of the USD in this regard.
Please note. The South African Rand is only tradable on our MT5 platform. It is not available on our MT4 platform.