This is what the Rama-Rand has been getting up to the previous couple of days.
We spent some time below R14 but struggled to get hrough R13.85 and are currently hovering at R13.994.
Interest Rates come out at 15h00, and there has been a very widely accepted number of 0.25 basis points being the cut down.
______________________________________________
Looks like the majority where correct. The SARB cut the Repo rate by 25 basis points to 6.5%.
The Rand looks to be firming and is currently sitting at R13.9261
____________________________________________
It looks like we might be in for an assault on R13.8572 which is previous resistance. If we reject we could be heading back to around R13.9250, , and if price blasts through resistance the next stop could be R13.80 vs the Dollar.
We are also seeing strength vs. other majors.
______________________________________________
USDZAR 1H @ 22.02
The ZAR broke blasted through the R13.85 resistance backed by a spike in volume serving as confirmation of the move and making it as low as R13.81540.
RedPill Analytics 