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Event risk has added a fair amount of volatility, but without a meaningful change in the prevailing view.
The interim Report of a possible down break through important support levels were put on hold after a sharp bullish reversal off the important support/ break levels.
Whereto from here: While volatility decreases certainty and creates doubt, it seems that the long held technical outcome remains preferred.
Please find the generally requested medium term update on the USD/ZAR pair.
The expected and current market consolidation seems to be forming a bullish continuation pattern.
This phase is most probably building a base for further gains, as part of the larger bull trend.
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