usdzar short

21. Juli 2016

I see political unrest in S.A. settling heading into municipal elections on 3rd August. Whilst another review from ratings agencies is upcoming, Pravin Gordhan (S.A. finance minister) is doing everything in his (more than capable) power to bolster performance and mitigate risk. The recent boost in commoditie prices for gold and platinum should see south african economy strengthen as these, coupled with other mineral products are the main exports for South Africa. which will presumably increase export values in june and July. Shorting usdzar to previous resistance turned support level 13.31 from late 2015.
entry 14.2
sl 14.51
tp 13.31