#BRICS currencies movement for the Week - 5Apr19

That’s more like it! $ZAR clearly in a better Mood(ys) this week, outperforming all other BRICS #currencies.

#BRICS currency/USD movements for this week:

Brazil +1.4%
Russia +0.6%
India 0.0%
China -0.1%
South Africa +2.9%

Euro/USD 0.0%

Technically, the ZAR also looking much better. Since last week, it broke through the support at R14.39, the 200-day moving average R14.11 as well as the 0.618 Fibonacci retracement support level at R14.10. It now found support at the 50-day moving average (R14.06).
Levels to watch:

1. a Break through these levels could most probably test the R13.89 levels, with my next target then becoming the 0.5 Fibonacci retracement support level at R13.61.
2. A reversal of the trend and break through 200-day moving average resistance at R14.11, could see us test the R14.45 levels again, with a breakthrough then eyeing the top of the wedge (resistance line) & 0.786 Fibonacci retracement resistance level at R14.80.